RyanVarghese

Tough Love for the quid. Long for 2Q

Long
FX:GBPUSD   British Pound / U.S. Dollar
Sterling has been consistently the worst performer among the G7 currencies in the past quarter. As we are heading into the new quarter and if my DXY hypothesis is right, then we could see some serious buying in Sterling on a pullback that will also validate an Inverse Head & Shoulder pattern.

Everyone knows, Brexit is now just a mess and there is no iota of a doubt about it. Boris Johnson is favorite and why would market / even institutions want to sell from the current levels even if everyone knows Borish John as the next prime minister is negative for sterling. Hence, in my view, we could be seeing buy the news in Sterling until September / October until we officially get a Brexit deal/exit.

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