GBPUSD Ahead of Elections

FX:GBPUSD   British Pound / U.S. Dollar
... and with the last GBPUSD idea (see attached idea) I know many are now positioned well for the change in trend for the mid-term;

-> Corbyn is picking up the pace in the run up as T.May and her clowns have lost ground in what has been no short of an awful campaign for the Tories.

(i) The hung parliament with no party having a majority is the worst scenario for the country, having a 'pro-brexit' cabinet is an absolute must!! I cannot stress this enough, as someone who has seen the political BS for decades that the UK will need a strong cabinet moving forward for the negotiations or we might as well start selling commercial property in the city as soon as Friday.

(ii) A conservative majority has two paths; the first with 'an increased' majority vs before and the other with 'no material' improvement ... the difference here will be important for the knee-jerk, with 'an increased' majority offering a modest relief rally for sterling and 'no material' improvement in the majority adding further fuel to the negative risks in GBP.

Eyes on the 1.29 handle as this can be a clean sweep ahead of Thursday for 1.28

Good luck to all
Jun 07
Trade closed: stop reached
thats not good..
@nbn007, yup had to take this additional entry on the cheek; thanks for your words of wisdom
The scum has never had it better, not for this long. The scum is the majority. The scum has infiltrated everything everywhere. The scum wants more entitlements and has empowered the bureaucracy. The scum has ruined everything.
These two will add to the majority
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