Price is at a resistance level and we are expecting it to respect this level, now it isn't the strongest level in the world but over the weekend there has been a lot of uncertainty and negative news surrounding brexit, a big march with thousands of people protesting, MPs calling for May to step down as priminister and the growing possibility that we might leave the EU with no trade deal.
We are expecting a bearish market gap at opening tonight with a couple of days bearish movement, from where price is now to our green zone is a 200 pip move which we are expecting price to reach this week.
We are just going to have to BEAR with Brexit as we can see a lovely bearish week coming.
Please be careful if you are trading GBP pairings though, use correct risk management and a tight SL.
We are expecting a bearish market gap at opening tonight with a couple of days bearish movement, from where price is now to our green zone is a 200 pip move which we are expecting price to reach this week.
We are just going to have to BEAR with Brexit as we can see a lovely bearish week coming.
Please be careful if you are trading GBP pairings though, use correct risk management and a tight SL.