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.

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I have also shorted GBPUSD
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