Don't Miss BREXIT Positive Deal
Updated
Key Quotes :
There are growing reports that the final piece of the Brexit puzzle is about to be put in place: the Irish backstop. It began with a tweet by Tom Bradby, an anchor with ITV that said that "it sounds like the negotiators have agreed on a final text for Brexit deal. Now waiting to see if Theresa May will accept it."
Some say that GBP/USD could reverse all the Brexit losses and go back all the way to 1.5000. We will take a more cautious approach and draw the path to the next 1,400 pips: to the post-Brexit high of 1.4376.
Yet even with a careful approach, a deal is still very significant. GBP/USD may ignore overbought conditions that can be reflected on the Relative Strength Index. The initial move may be swift and slow down afterward.
- The EU and the UK agreed on a Brexit deal, yet to be approved by May's Cabinet and UK's Parliament.
- Brexit-related fundamental headlines largely overshadowing technical readings.
- The British media is full of reports that a Brexit deal is all but done.
- Officials still insist the agreement is not finalized.
There are growing reports that the final piece of the Brexit puzzle is about to be put in place: the Irish backstop. It began with a tweet by Tom Bradby, an anchor with ITV that said that "it sounds like the negotiators have agreed on a final text for Brexit deal. Now waiting to see if Theresa May will accept it."
Some say that GBP/USD could reverse all the Brexit losses and go back all the way to 1.5000. We will take a more cautious approach and draw the path to the next 1,400 pips: to the post-Brexit high of 1.4376.
Yet even with a careful approach, a deal is still very significant. GBP/USD may ignore overbought conditions that can be reflected on the Relative Strength Index. The initial move may be swift and slow down afterward.
Trade active
Note
Bulls take a breather heading into a Big Brexit WednesdayNote
PM Theresa May has called an emergency Cabinet meeting 2pm today to sign off draft agreement agreed with #EU negotiators in Brussels. It would be interesting to see whether all cabinet ministers will support the draft. #Brexit
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