In our Daily Trade Watch video, we look for high probability trade setups that we can trade throughout the day. Today, we discuss how the Brexit deal equals GBP strength for now.
When the long overdue Brexit legislation finally got through parliament, the pound reacted in a positive manner. This, of course, has been 3 and a half years in the pipeline, with many casualties along the way. However, we are now there as the UK is leaving the EU on the 31st Jan at 11 pm. So what does this mean for the pound?
Today, we saw a nice 100 pip move to the upside upon confirmation of the Brexit deal going through. As a result, we are now looking for high probability opportunities to buy the pound. The first market we will be looking very carefully at is the GBPUSD. A move above yesterday’s high of 1.3152 is our high probability buy trade in this market. In the GBPJPY, we like this market above, again, yesterday’s high of 144.58.
Brexit Deal Equals GBP Strength for Now – Full Video Analysis
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