Yesterday's trading range was 70-72 pips whilst the 20-day ADR was 102 pips. In a day when there was a risk event (political) and there was a stop hunt spike during the London session, it is indeed a bizarre day.
After a "missed" day, I always anticipate a price expansion within 36 hours. I am still bullish on Sterling hence I am still waiting and looking for a...
British Pound is expected to have its new low at the trend line or very close to it. If you have a sell on this pair then your tp should be at 1.215-1.22
While a falling wedge is forming over the past few weeks, the UK was just granted an extension until October of this year ensuring that we are all continued to be bored to death by it until then. In all likelihood, there will be a general election before then and perhaps a new government controlled by Jeremy Corbyn. God knows what he'll do with this mess. At any...
Macron convinced the Spanish and Belgians in supporting his stance on not allowing a long extension beyond April 12th, just five trading days away, without a meaningful signal by the UK Parliament in asserting what kind of deal they want to leave the EU. While Macron did suggest a short extension beyond the 12th, it is not clear when this would be. What is clear...
Havn't made a comment on GBPUSD in a bit mainly since just needed to sit back and see what the developments were. As expected, nothing new has happened while the odds of a no deal Brexit on April 12th are now noticeably higher according to the betting markets. The pound hasn't reflected this reality yet mainly because a deal is priced in. Dramatic volatility will...
Brexit. Its kind of like a bad tattoo in that it never goes away, yet was almost immediately regrettable. Unfortunately that continues to be the case this week with Prime Minister May meeting with opposition leader Jeremy Corbyn to etch out a deal for the House of Commons to pass her bill which has already been rejected three times. Much ink has been spilled and...
With all of the indicative votes failing in the House of Commons and PM May's deal looking increasingly unlikely to pass, the UK is now in serious jeopardy of an accidental crash out of the EU. The price of the pound does not reflect this pact and incredibly the historic 10-day volatility of the pound has dropped back down to relatively normal levels. I am still...
As you see on the Chart, GU created a double top at 1.2950. It´s between our FIB Region of 1.2905 - 1.2980. If we see the break of 1.3015, we may can see the upside really to 1.3350. Follow the arrows and be patient.
