Shedding A Few Pounds For Christmas...

GBPUSD rejected at 1.35xx which acting as major resistance after the country went back on the leadership merrygoround. Here actively selling into all rallies in GBP crosses, although there is a caveat to Pound shorts in the immediate term. With Johnson and a ruthless Downing Street in full control of the press and hitting the “right” headlines the positive narrative around Brexit will continue and therefore dips will be perceived as attractive too many.

The Conservative majority was clear and simple to trade, particularly in GBPAUD:

GBPUSD

In any case well done all of those in shorts from the 1.35xx election highs … you will remember “perception is more important than reality with FX” … Remain nimble to take some chips off the table. A squeeze below 1.315x will make me excited.

This next chart indicates the sense of division in Britain, a fragmented society which also highlights the stupidity to have such a referendum on a complex topic. The UK is not like Swiss for example having referendum after referendum, rather it is a representative democracy. Yet sadly we are seeing a corruption of democracy via media manipulation swerving public opinion.

For example, those who remember Cameron's premiership will remember the government was at the time asking for public to remain while they were pursuing policies of austerity (decreasing consumer confidence) and served to have more damage than good. The silent revolution or protest vote (all cleverly calculated) unlocked Pandoras box with a People vs Establishment narrative:

Thanks all for keeping the support coming with likes, comments, questions, charts and etc. As usual jump into the comments with your ideas and views to open the discussion for all!

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Trade closed: target reached