In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we look at UK parliament votes as pound strengthens.
We’re sure you know by now that Theresa May has had her Brexit deal categorically and emphatically rejected by the British Parliament by 202 votes in favour, versus 432 against. You may think this would not be good for the pound, but this is not what we have seen so far. In fact, the opposite is true as we have seen a relatively explosive move to the upside.
If this trend continues over the course of the day, we will be looking for pound continuation, primarily, in the EURGBP. This market has been pushing lower, however, a break below yesterday’s low of 0.8854 gives us a great opportunity to look for some high probability sell trades.
UK Parliament Votes as Pound Strengthens – Full Video Analysis
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