GBPJPY
I THINK ITS LONG PATTERN AS NOW , IF RESETTING LINE NOT BROK
If we see this candel close above the trend line coudl see more upside
Possible cypher nearing completion, order in place
Just looking at possible ways this pair might play out over the coming days Overall I have a long out look after the Brexit result last week
Current thoughts: So GBP took an extreme dive today (more than 15% at the bottom). The reason was that the market expectation was that UK would vote to remain in EU. But it didn't. The situation is that UK people voted to leave EU, but it will absolute take years (2+ for sure) to take care of all sorts of issues such as EU-related legislation. So in this...
UK left EU. As I mentioned yesterday, I suggested SHORTING GBPJPY either UK leaves EU or not. Absolutely good trade for this currency pair. I do not plan to take long position in GBPJPY in recent days.
If we took a look at the Scottish Independence Referendum in 2014, we can see how similar are these two events. About 1 week before the voting, the "remain" league takes the lead, and GBP gains by a huge percentage. So, the voting day is not important, the day when the result is available is IMPORTANT. We know that there are 2 results: 1. UK remains to be a...