📌 @ridethepig G10 FX Market Commentary 17.12.2020
==> What we must track here is the buyers playing $1.360x and reaching overdone levels. The exchanging between UK and Europe is coming to an end, meaning the focus can shift towards the complete 'liberation' of the UK from which it was previously 'restricted'. So, in such cases, when a country loses market access the central bank gets bogged down with devaluation, and in these cases it means we should be able to employ offers with the same stratagem from when Johnson was initially elected.
![ridethepig | UK Elections [LIVE COVERAGE]](https://static.tradingview.com/static/images/svg/idea-image-placeholder.svg)
This sort of tendency to going down and roll back up the whole swing, is what I would call the cleansing of the board. It is a move which is aimed at whiping the ladder and opening up the dominating (and appropriate story) at the time which is the well being of the UK and woes of which will determine the actions.
A very plausible move we played earlier in the month, and of course after the bounce up I am sure there is hesitancy to play it again.
Now I am looking for signs of a top at $1.357x / $1.360x and the threat of a hammer down is greater than ever. GBP buyers have not played very economically and are hung by a thread of support. Sunak announcing the furlough package any minute, this expensive fiscal deal is far from any stretch of the imagination a conservative policy... The exploitation of the terrain up here, namely the squeeze, will force all soft hand retail to close and into a state of confusion. Stay alert, avoid the noise and play the leg down...we might get the waterfall for Christmas.
Thanks as usual for keeping the feedback coming 👍 or 👎
==> What we must track here is the buyers playing $1.360x and reaching overdone levels. The exchanging between UK and Europe is coming to an end, meaning the focus can shift towards the complete 'liberation' of the UK from which it was previously 'restricted'. So, in such cases, when a country loses market access the central bank gets bogged down with devaluation, and in these cases it means we should be able to employ offers with the same stratagem from when Johnson was initially elected.
![ridethepig | UK Elections [LIVE COVERAGE]](https://s3.tradingview.com/c/cZEkRhfo_big.png)
This sort of tendency to going down and roll back up the whole swing, is what I would call the cleansing of the board. It is a move which is aimed at whiping the ladder and opening up the dominating (and appropriate story) at the time which is the well being of the UK and woes of which will determine the actions.
A very plausible move we played earlier in the month, and of course after the bounce up I am sure there is hesitancy to play it again.
Now I am looking for signs of a top at $1.357x / $1.360x and the threat of a hammer down is greater than ever. GBP buyers have not played very economically and are hung by a thread of support. Sunak announcing the furlough package any minute, this expensive fiscal deal is far from any stretch of the imagination a conservative policy... The exploitation of the terrain up here, namely the squeeze, will force all soft hand retail to close and into a state of confusion. Stay alert, avoid the noise and play the leg down...we might get the waterfall for Christmas.
Thanks as usual for keeping the feedback coming 👍 or 👎
Comment:
...and we got the break!
Trade closed: target reached:
TP1 Hit ✅
Comment:
Trade closed: target reached:
TP2 1.328x hit! Clearing second targets in cable ✅
