Cable has seen significant volatility throughout the month of October for a variety of reasons, not just Brexit.
October has seen frequent spikes for what I suspect to be liquidity requirements (orders needing to be filled for bank's liquidity requirements and prices being below key levels, it'll be silly to not get the orders filled at that rate).
Just a few pointers for myself to reflect on following this week. Journalling is a great way of analysing and assessing retrospective events, reducing your emotional capital and identifying positives from the negatives. Note, the rhetorical questions are aimed at myself :).
Lessons learned following 2 red days for week ending 9th October:
1. Complacency- trading...
EUR/USD is operating within a Pre-Covid19 range (albeit Covid lockdown declared in March 2020).
This indicates, following lockdown easing, the euro is entering a 'business as usual' range.
Buyers are willing to pay up to 1.11538, with buyers occasionally engulfing the bearish sellers.
Note, if the usual range is 1.113 to 1.150, with prices currently operating...
Germany and France are clearly leading the way in terms of dealing with Coronavirus.
With French pharmaceutical firm Sanofi being a one of the many key contenders in the rat race to find a vaccination, and Germany having low mortality rates of 4.6% (ROW of 6.5% & UK 14.2%), the EU is certainly doing a better role in containing & mitigating spread.
Downwards trend continues with a depreciating swissie against the GBP- GBP has seen bullish runs recently, possibly as a result of easing of lockdown rules giving investor confidence?
Caught the trade near the high end of the resistance- how low can we go?