ridethepig | Fading The Highs In GBP!

With Javid out Johnson had the perfect cherry pick with Rishi Sunak and now the fiscal taps can be turned on full. This medium-term swing is starting to look very interesting which is unlocking a leg towards 1.20xx and 1.15xx below:

Rishi is a typical yes man, he will do whatever Johnson wants. Those behind the curtain know it was another flawless beheading from Cummings, meanwhile a ruthless Downing Street only waiting for Carney exit on 16th March to have full control with Bailey too.

Eyes on NY selling the open, we could get a very fast swing down is USD catches a strong bid via coronavirus risk. US inflation overshooting will be enough to carry this lower.

Thanks guys for keeping the likes and comments coming, jump into the discussion with your charts below!

Trade active

Comment:

For those in GBPJPY

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Eyes on GBPUSD for the open...

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Nothing to see until the London close, focus starting to shift towards Brexit talks beginning 1st March. Tracking 1.288x for the beginning of negotiations.

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We might get the break today...If Tokyo want to play along we can break down early this week

Trade closed: target reached:

1.295x First Targets Cleared...

Trade closed: target reached:

1.285x HIT! ...Well done sellers!

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Almost there...

Trade closed: target reached:

1.275x TP HIT!

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Heavy selling...