ridethepig | GBP Market Commentary 02.12.2020

This point of view, relying on the soundness of the highs, which has been proved, will be vital to our success, because it is what we are leaning on and it is giving us a chance to pull the trigger in a somewhat cheap area in terms of risk.

But the risk is as follows: if the only way to achieve liquidation is a sweep above mentioned highs, the possibility of running stops on a headline is still NOT zero.

So what are the possibilities of our stops getting hit? It is not an easy one to answer. It depends on a closer look at the timing, it is always more important than price, the only reason GBP is not trading at 1.20 and 1.15 is namely the dollar devaluation and some more details around a deal which can still follow.

I would like to anticipate that it was all too easy for UK to push through Pfizer and consider it an important advance on softening brexit headlines that are still to come. Allow appropriate room for the stops incase of that possible thrust, a single towards 1.285 and 1.20 is sufficient.

Thanks as usual for keeping the feedback coming 👍 or 👎

Comment:

A quick update to the chart here