Monfex_UK
Short

Cable is braced for EU decision! **The royal battle**

OANDA:GBPUSD   British Pound / U.S. Dollar
Hi, Traders ! Monfex is on the air !

With Brexit in suspension and PM Johnson waiting for the respective EU decision, GBP/USD is also flat.

* UK will need the new elections in case the EU provides a three-month extension, as requested.
* It is hard to project the outcome of the election calling, but we suppose that the turbulence would increase on the market and we could well see the Cable going down to the low of the channel at $1.24.
* At the same time and prior to the EU decision, the pair could test local high around $1.30 during the US session, on the back of the increasing dovish Federal Reserve expectations.
* Technically, as we projected in our previous review, the pairs made a false attempt to break-out of the ascending triangle , so the second attempt to test $1.30 could be a good entry Short point, ahead of the EU decision and the announcement of fresh elections.

Speculative trade signal

Sell @ $1.30.
Target: $1.24.
Stop-loss: $1.3090.

Watch for our Updates to get real-time superior signals!

GOOD LUCK AND LOTS OF PROFITS !!

Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.

Comments

I have also shorted GBPUSD
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out