In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we discuss GBP and Oil pushing higher again.
Parliament has overwhelmingly supported an amendment that formalises the pledge Theresa May made to her fellow MPs. This amendment effectively prevents a no deal scenario if May does not get her deal through. Like we suggested yesterday, if we see a break above the daily high of 1.3350 we would expect continuation. The same level to the downside is 0.8528 in the EURGBP and above 148.00 in the GBPJPY market.
Finally, the Oil markets are beginning to move again. As a result, if we see a break above the structural high of 57.88, this would give us a strong high probability trade to the upside also.
Overall, it is worth noting that it is the last day of the trading month, so just be realistic with your expectations. If you get the chance to book in a profitable trade then do take that opportunity. Tomorrow is another day.
GBP and Oil Pushing Higher Again – Full Video Analysis
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