In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we will keep an eye on positive GBP sentiment, certaintly if we see continuation to the up side on the charts.
Yesterday, the Labour party in the UK announced that they would support a second brexit referendum but only as a last resort, i.e. if Theresa May cannot get her deal over the line. If this is the case then we would expect the pound to continue to strengthen.
If this is the case then from a techncial perspective we will look closely at the GBPUSD and look for high probability opportunities above yesterday’s high of 1.3150. In the EURGBP we will look for similar opportunities but this time below yesterday’s low price of 0.8590 and finally, in the GBPJPY we will look for opportunities above yesterdays high of 145.40. Please note, we would be looking for correlation across the pound pairs to give us the confidence necessary to trade these markets.
Keep an eye on positive GBP sentiment – Full Video Analysis
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