ridethepig

Lady Hale ready to make it pour...

Short
FOREXCOM:GBPUSD   British Pound / U.S. Dollar
Here we go for a big day across UK markets.

The Supreme Court will announce its decision on whether the proroguing was unlawful this morning. In my books this is not going to materially change the future path of Brexit. Whispers making the waves around the City that the government has lost the case…

...Any positive knee-jerk reaction in GBP should be aggressively sold into; should the court advise Johnson to request an earlier recall with prevention of a second prorogation markets will interpret the initial perception as diminishing Johnson’s authority and GBP positive. However, I don’t expect the Johnson draconian mandate to change and any upside in GBP will soon be reversed by comments following Johnson’s meetings in NY later today around how the UK and EU are still far apart.

Conservative’s cards are turned face up on the biggest issue since the Second World War….but hey lets shut down Parliament and sprint to the finish line inflicting as much damage to the economy as possible. Meanwhile the opposition Labour Conference voting to back Corbyn’s stance of not committing to either back "remain" or "leave" till after the general election (their hands are just as dirty for allowing this to happen).

Good luck all those with UK exposure.
Comment: Eyes on 1.234-1.232 for the London close ... If support gives way here we will see an impulsive move

Related Ideas

Comments

Any update here bro? what you think? enough of correction already?
Reply
Agreed. We will see even lower than this though.
Reply
This is going awesome!!! welcome 55MA. lets push it down more
Reply
BOJO just arrived in the parliament....lets hope that its a waterfall....
Reply
@ridethepig I think it will close above 1.234; I suppose it will go back up close to 1.24 ? What do you think?
Reply
ridethepig ridealong
Johnson with no friends to come on the wires... expecting selling pressure to continue @ridealong
Reply
Well done!! im with you on this. following
Reply
ridethepig RobertoMachadoNeto
Thanks and GL @RobertoMachadoNeto
Reply
@ridethepig, So far so good!!! lol thank you. have a good trade
Reply
Great setup mate as always
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out