Theresa May speech jolted the Pound Sterling up into Daily Demand. The daily zone was not fresh, but a 4h zone was created out of the reaction. Whether this sell works or not, there are potential opportunities to buy or sell that I will be watching.
The technical chart has confirmed a weekly downtrend in the Pound as I expected, and despite being trailed out in profit, I'm looking to reenter shorts with force at market open, with a significant position size, aiming to risk 0.5-1% if the idea fails. In this news article, it's hinted that May will talk about a Hard Brexit in her Tuesday speech, which would...
Good Morning, Afternoon and Evening Traders A week later from my post "Sterling heading for 1.21 level?", the cable has yet again pushed into the very low levels after UK Prime Minister Theresa May stated last week that triggering article 50 would mean the UK not having access to the single market. This wasn't great news for the cable at all, and consequently...
GBPUSD is finding difficulty extending the bounce from the 1.1450 low of October, with fresh sellers appearing just beneath the 1.2795 low of July and 1.2805/10 Fibonacci retracements. Prices are settling into consolidation, as studies turn mixed, but bearish background studies are intact, suggesting fresh downside risks in the coming months. A close below 1.2200...
Mysterious sterling strength: 1. Sterling has managed to par losses and actually rise in past days despite a number of heavily weighted factors increasing GBP downside pressure e.g. MPC M. Weale switching to the doves, PMI/ Business Optimism 8yr lows, Sterling rates markets consistently pricing >25bps of cuts to the BOE base rate (details below), the median bank...
The Federal Reserve's regulatory point man said work to address the lessons of the 2008 financial crisis won't be complete without better regulation of short-term funding both inside and outside the banking system. St Louis Fed President Jim Bullard may be the Fed's new super dove, but he's no pessimist, he says. Bullard is the lone Fed official forecasting just...