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Brexit

Buy Idea: GBPCHF analysis for 2021On high possibility of a good Brexil Deal and COVID-19 vaccine roll-out around the world, it will be easier for the Cable to gain strength against the Swiss Franc, a safe haven currency. However, a 0.236 fibonacci level resistance of the previous 5-YEAR bearish run prevents the medium-term bulls from taking control. The level is also a 0.5 Fibonacci level resistance from a bear drop since last year. A breach of this zone will open up the 2020 Highs once more.
Long
by GrizzlyBearBee
2
Descending channel continuation We can see a strong descending channel in play. I believe we will see a break into the lower descending channel to retest .87000 which plays a strong double zero for this pair. The UK’s sentiment with breaking from EUR seems to be more positive than most thought. It seems EUR will be suffering more from a no deal Brexit. With deadlines looming I think GBP will grow a bit stronger before losing strength. My technical indicators all call for continuation. My super trend is on a strong sell. It is not visible due to the trend line visual interference with my candle wicks. RSI would be at a reasonable oversold area with a retest of .87000. MACD and Signal on hourly charts are all flowing u dear the zero line with the 4 hr making the most recent cross. We are in a tricky trading time with off sentiment and worldly events. Anything can force the market into reverse directions and volatility. Never overestimate the force of fundamentals.
Short
by Pika7993
GBP/USD – the pair for the global economy?Two main fundamental factors depressed the GBPUSD for the past couple of years—Brexit, and now recently, the Coronavirus. The trade is relatively simple – once there is a vaccine for the Coronavirus, alongside certainty on Brexit talks, a good case can be made for the pair to reach its Pre Brexit/Pre Coronavirus levels around 1.45 Pound needs to meet two catalysts to hit 1.45 Let’s go over the technical first. A Fibonacci drawn from 1.34 to 1.15, from the 2019 high to the 2020 low, can see the level of 1.45, hitting perfectly with the 161.8% retracement level, which was the level before the Brexit referendum results were announced in 2016. Alongside predicted further weakness in the US dollar, as vaccine hopes rise, the pound may rally on relatively less stimulus to its US counterpart. We can also see some consolidation zones and congestion around 1.32 and 1.38, where bulls and bears fight it for a higher or lower move. However, movements to the upsides past these zones paired with positive fundamental news may see price levels freely hit strong Fib levels. A robust full recovery, with pre-Coronavirus level economic activity alongside a positive post Brexit environment, and we can see levels hit 1.50 – 1.55. Brexit – time is running out, risky for the Pound It has almost been five years since the Brexit referendum took place—a quick refresher on why Brexit occurred. There were talks amongst the public that they were getting the short end of the stick regarding the European Union and that the majority of the citizens in the UK wanted to leave. The Prime Minister at the time, David Cameron, disagreed with the notion that the UK public wanted to leave. Therefore, he initiated a referendum to show that the UK did not want to leave the European Union. It turns out he was wrong, and they did want to leave. David Cameron retired soon after. Five years later, and we’re edging closer to a deal. Brussels and the UK have started in-depth negotiations again after the Coronavirus ravaged the world. A “deadline” has been set for 31st December, where Britain will “leave” the EU regardless of whether a deal has been met. However, “deadline” is in quotations as both have agreed to extend deadlines that have passed many times before. An EU official has stated that “its getting terribly late and may be too late already” and that “they haven’t quite reached where they had hoped to be.” If a “no deal” Brexit occurs on 31st December, shock waves will be sent not only in the financial markets but also supply chains all across Europe and the UK. There is currently free trade and free transport out of the UK and into Europe and vice versa. However, a no-deal Brexit would mean that on the 31st December, the EU will treat the UK like any other country. A no-deal Brexit should see the pound drop to a similar magnitude of that in 2016. However, if the optimistic scenario occurs and a vaccine comes alongside positive Brexit negotiations, we should see the pound rally against the US Dollar.
by BlackBull_Markets
Long SPX (S&P500)Interesting times - SPX has all the price points baked in. Forget the Elections, the Richest CEO's and companies added $1 Trillion to their net-worth during the first round of Covid. Whilst retail traders are stressing over Biden or Trump. There are some bigger factors at play. We could see the price fall to around 3096 before a half-decent rise. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
FOREXCOM:SPX500Long
by Mayfair_Ventures