In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we are sticking with the GBP move.
This market has strengthened significantly since yesterday. Not just from a fundamental and sentiment perspective, but also from a technical perspective. Regarding Brexit developments and to add insult to injury, we now understand that Parliament has just rejected Johnson’s call for a general election. It will now be very interesting to see what move the government makes next.
Additionally, from a technical trading perspective, we have waited patiently for this market to break below a strong level of support at the 0.9016 low. A break below this level and, again, below 0.9000 would represent a significant structural failure lower.
Again, we must be mindful of the potential extreme volatility we may continue to see as developments continue to unfold as things could change quickly.
Sticking with the GBP Move – Full Video Analysis
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