ridethepig | GBP Market Commentary 18.12.2020
Updated
đź“Ś ridethepig G10 FX Market Commentary 18.12.2020
Another early breakfast for Pound sellers, brexit occupies the sentiment throne and optimism has clearly vacated! Pound now has its eye on the breakdown as expected since yesterday and even a wishy washy deal will be a sell in the short-term. Johnson and VDL taking it to the wires will turn out to be the obstruction for another move lower will be difficult to defend.
With 1.360x holding in fine style and shorts starting to enter with volume, quite heart-rendering.... Stay short GBPUSD looking for1.346x, 1.328x and 1.313x with invalidation above 1.372x; and long EURGBP above the 0.900x handle with main targets 0.92xx and 1.00x.
Thanks as usual for keeping the feedback coming đź‘Ť or đź‘Ž
Another early breakfast for Pound sellers, brexit occupies the sentiment throne and optimism has clearly vacated! Pound now has its eye on the breakdown as expected since yesterday and even a wishy washy deal will be a sell in the short-term. Johnson and VDL taking it to the wires will turn out to be the obstruction for another move lower will be difficult to defend.
With 1.360x holding in fine style and shorts starting to enter with volume, quite heart-rendering.... Stay short GBPUSD looking for1.346x, 1.328x and 1.313x with invalidation above 1.372x; and long EURGBP above the 0.900x handle with main targets 0.92xx and 1.00x.
Thanks as usual for keeping the feedback coming đź‘Ť or đź‘Ž
Comment
Relatively simple NY open; nothing to update on technicals, it is Quadruple Witching so eyes on the close. Trade closed: target reached
TP1 Hit âś…Comment
Comment
1.328x TP2 hit âś…Comment
A quick chart update for NY open:
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