In our Daily Trade Watch video, we look for high probability trade setups that we can trade throughout the day. Today, we acknowledge the fact that the UK Parliament had a couple of very important votes last night, the reality of which saw one win and one loss for Boris Johnson.
We can discuss the permutations of these votes for hours, however, we all want to know how the markets and the pound are reacting to these events. What we have seen is a degree of pound selling finally creeping into the markets after a couple of weeks of considerable strengthening.
When you see a move like what we saw in the pound over the last 2 to 3 weeks then you do want to see a pullback or correction. That is what we are seeing, a natural pullback after consolidation. As a result, we are looking for opportunities to sell the GBPUSD but only below yesterday’s low of 1.2862.
One Win and One Loss for Boris – Full Video Analysis
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