From the looks of it, this pair has been travelling in a channel for quite awhile on the weekly, it’s been doing this since the start of 2018. With a no deal brexit on the table, the Sterling will definitely be worse off over time. We could possibly see a retest of the 124 level by summer. The only thing I can see stopping this in my opinion is for a deal with...
With possible news about a roll out of vaccinations going around, I reckon the bulls will push to near highs. From what I can see, we’re looking at an n pattern. This usually means the price will go back. With this, there’s a possibility to short at the top with TP halfway of the n.
Just a trade that I’m currently in that I thought I would share with you.
From the sentiment this morning and afternoon I believe that we’ll see a fall by Friday.