GBPUSD Short
Updated
The recent political risks surrounding Brexit, such as the suggested rerun of Brexit election and other instability in the UK government, and the continued downtrend of GBPUSD since April this year and USD strength in general, give me an overall bias for this pair despite its recent rally.
Setting up sell stop order few pips below 1.30, with TP @1.265 - 1.27 and SL @1.29 recent high.
ft.com/content/078dfe3e-e41e-11e8-8e70-5e22a430c1ad
fxstreet.com/news/gbp-usd-drops-below-12950-as-politicians-voice-their-opposition-against-draft-brexit-deal-201811131909
fxstreet.com/news/uk-pm-may-expected-to-present-draft-brexit-deal-on-wednesday-201811131617
Daily:
Weekly:
Confidence: C (because of geopolitical risks involved, with PM May submitting a draft Brexit deal today)
Setting up sell stop order few pips below 1.30, with TP @1.265 - 1.27 and SL @1.29 recent high.
ft.com/content/078dfe3e-e41e-11e8-8e70-5e22a430c1ad
fxstreet.com/news/gbp-usd-drops-below-12950-as-politicians-voice-their-opposition-against-draft-brexit-deal-201811131909
fxstreet.com/news/uk-pm-may-expected-to-present-draft-brexit-deal-on-wednesday-201811131617
Daily:
Weekly:
Confidence: C (because of geopolitical risks involved, with PM May submitting a draft Brexit deal today)
Trade closed: stop reached
theguardian.com/politics/live/2018/nov/14/brexit-deal-theresa-may-conservatives-meet-decide-cabinet-politics-liveShould have waited for the result of that cabinet meeting by PM May.
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