ridethepig

The stalemate continues

Short
FOREXCOM:GBPUSD   British Pound / U.S. Dollar
A few updates on the Brexit front for those following politics in the UK … none of the options gaining support from a majority (as anticipated) in the House yesterday meaning we are in the same bizarre situation.

What is becoming increasingly clear over the past few weeks especially is that the Brexiteers are becoming afraid of losing Brexit altogether and their hands are being forced to support May’s deal…This has been inline with my long-held view on the pantomime.

For those trading Pound in the FX board…A snap election will send EURGBP towards 0.9 whilst a no-deal scenario will trigger the flash crash towards 1.0. In GBPUSD and GBPJPY the GBP side is looking very soft, a large breakdown is in the making with GBPUSD 1.25 and GBPJPY 135 in play.

Best of luck all those who are already loaded in positions
Trade closed: target reached

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