The deal on Brexit is near to be complete. Minister Dominique Raab said that Britain will leave the EU eather EU has anything against it or not. Is his Master's degree at Cambridge University contradicts this or not, we will not know it ever. But one way or another, we approached the end of this British drama and at the same time to the lowest possible historical levels of the pound-dollar pair. Even on their own these levels will pull the cable down like a magnet despite Friday's efforts of buyers.
On the daily chart, we see a reversal Doji candle and a bearish candle after it. At the same time, the level of closing of the dark candle is higher than the level of the light bullish one, preceding the doji. So if I was a scalper I might be playing on rollback. But I’m lucky not to be the one of them.
But even if we close our eyes to doji, we are still far enough from the upper level of the bearish channel and still, even here we see such powerful signals. This can tell us something. At least we are about to meet several levels even lower, before we can say that the operation “Brexit” has gone to an end and the pound has flown up into the sky or dropped to the bottom as an anchor.
So! We tested the level of 1.2880 and we can expect further decline to previous records of 1.2870 and 1.2660 and even 1.2400.
On Monday after the opening, I would recommend a sale with a target of 1.2730. But not any further. And immediately left the arena if the bulls climb to 1.2740.
Good luck.
God save the Queen.
And do not forget about the economic Calendar.
On the daily chart, we see a reversal Doji candle and a bearish candle after it. At the same time, the level of closing of the dark candle is higher than the level of the light bullish one, preceding the doji. So if I was a scalper I might be playing on rollback. But I’m lucky not to be the one of them.
But even if we close our eyes to doji, we are still far enough from the upper level of the bearish channel and still, even here we see such powerful signals. This can tell us something. At least we are about to meet several levels even lower, before we can say that the operation “Brexit” has gone to an end and the pound has flown up into the sky or dropped to the bottom as an anchor.
So! We tested the level of 1.2880 and we can expect further decline to previous records of 1.2870 and 1.2660 and even 1.2400.
On Monday after the opening, I would recommend a sale with a target of 1.2730. But not any further. And immediately left the arena if the bulls climb to 1.2740.
Good luck.
God save the Queen.
And do not forget about the economic Calendar.