Buy GBPUSD when break 1.3200 level
The GBPUSD has moved to a new day high and new highs since the end of March.
Connecting recent highs on the hourly chart, that trend line comes in at 1.31956. Breaking above it and the 1.3200 level would be more bullish.
As per previous post for shorting GBPUSD. 1.3500 level is a good level to take profit and start to short GBPUSD.
Connecting recent highs on the hourly chart, that trend line comes in at 1.31956. Breaking above it and the 1.3200 level would be more bullish.
As per previous post for shorting GBPUSD. 1.3500 level is a good level to take profit and start to short GBPUSD.
Comment:
GBPUSD takes out 1.32 level. The drift in cable continues as the market continues to get more comfortable with the likelihood of a solid Conservative majority. Expect jitters on election day but I think this trend is going to last.
Order cancelled:
The YouGov UK election poll just out has these projections:
Con 339 (-20)
Lab 231 (+20)
Lib Dem 15 (+2)
SNP 41 (-2)
Plaid 4 (0)
Green 1 (0)
Other 1 (0)
That is, the race is narrowing somewhat. Earlier polls had projected a much larger majority for Johnson (around +68). The narrowing of the expected result means a hung parliament still cannot be ruled out. A majority would smooth the path the Brexit and ease uncertainty. A hung parliament would prompt fears of further deadlock.
GBPUSD losing ground as I update:
Con 339 (-20)
Lab 231 (+20)
Lib Dem 15 (+2)
SNP 41 (-2)
Plaid 4 (0)
Green 1 (0)
Other 1 (0)
That is, the race is narrowing somewhat. Earlier polls had projected a much larger majority for Johnson (around +68). The narrowing of the expected result means a hung parliament still cannot be ruled out. A majority would smooth the path the Brexit and ease uncertainty. A hung parliament would prompt fears of further deadlock.
GBPUSD losing ground as I update:
