In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we advise you to keep a close eye on GBP and look to capitalise on the potential extreme volatility.
Over the course of yesterday’s trading day, we have seen a complete shift in the sentiment behind the British Pound. More than that, the fundamentals also seems to have shifted quite drastically. Parliament looks like they are preventing a no-deal and potentially also blocking a general election, leaving Boris in a tight squeeze.
However, from a technical perspective, this trade can really stack up, showing a double bottom. A bounce off a lower trend line, price reversing back above the monthly low and reversing nearly 90% of yesterday’s price action.
Yes, this trade does require to fundamentals to support the GBP and, of course, expect extreme volatility as things unfold.
Keep a Close Eye on GBP – Full Video Analysis
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