Back to technicals and we can see on the we had a couple of higher highs and higher lows. However, we have come close to a 3rd touch of the due to last nights news, forming a new lower high. Fundamentals are currently respecting technicals as we've seen a rejection of the descending and a ping off price ranging between the 78.6 / 88.6 Fibonacci regions. We also managed to come below the daily marked in purple. Short term downside targets are 1.28600 and 1.27350 respectively. I expect a retracement to this purple resistance also laying in line with the 61.8 region before seeing a leg to the downside, before creating a new lower low. This can be a great swing trade to capitalise on a no deal result before seeing a recovery of the GBP.
As always, risk management is key. Market manipulation and is expected in these times of uncertainty and volatile news event times should be noted!
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