In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we look at some major moves in GBP.
As you have probably seen, yesterday we saw a major move to the downside in the GBP. This is due to Boris Johnson and his cabinet giving the EU an ultimatum. That being, either renegotiate the backstop or the UK will plan to leave the European Union via a no-deal Brexit.
As a result, this helps with our trade selection and our directional bias. We are looking for the GBPJPY to break below yesterday’s low of 132.85. We also have a similar trade in the EURGBP to the upside above yesterday’s high of 0.9120.
Major Moves in GBP – Full Video Analysis
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