FUNDAMENTAL ANALYSIS, Shows Weak GBP due to Political Factors.
.
.
Boris Johnson Resigns, Will Serve Until New Leader is in Place
Timeline of Leadership Contest to be Announced Next Week
UK Assets See Muted Response as Macro Outlook Remains Key
.
.
Boris Johnson confirms that he will step down as Prime Minister following a wave of resignations within his party. Noting that he will serve as a caretaker PMI until a new leader is in place.
Thus far, much like how financial markets responded to Theresa May's resignation in 2019, aside from short-term noisy price action, market moves have been muted in UK assets, given that Boris Johnson's resignation does little to alter the overarching bleak macroeconomic backdrop that the UK currently faces.
In TECHNICAL ANALYSIS.
GBPJPY Show a good Order Block on 4 Hour.
Confluences which validates this order block are as follows:-
1. It has broken structure.
2. Lies with in Premium Supply.
3. Their is in efficient Price Action( Imbalance to be filled).
4. Unmitigated Order Block.
5. Liquidity Taken.
EVERYTHING COOL RIGHT..... Trade Safely.
.
.
Boris Johnson Resigns, Will Serve Until New Leader is in Place
Timeline of Leadership Contest to be Announced Next Week
UK Assets See Muted Response as Macro Outlook Remains Key
.
.
Boris Johnson confirms that he will step down as Prime Minister following a wave of resignations within his party. Noting that he will serve as a caretaker PMI until a new leader is in place.
Thus far, much like how financial markets responded to Theresa May's resignation in 2019, aside from short-term noisy price action, market moves have been muted in UK assets, given that Boris Johnson's resignation does little to alter the overarching bleak macroeconomic backdrop that the UK currently faces.
In TECHNICAL ANALYSIS.
GBPJPY Show a good Order Block on 4 Hour.
Confluences which validates this order block are as follows:-
1. It has broken structure.
2. Lies with in Premium Supply.
3. Their is in efficient Price Action( Imbalance to be filled).
4. Unmitigated Order Block.
5. Liquidity Taken.
EVERYTHING COOL RIGHT..... Trade Safely.