Wednesday, March 22, 2023
Forex Broker News
  • Home
  • Forex Broker Reviews
    • All
    • Preferred Brokers
    • Regulated Brokers
    • Unregulated Brokers

    Revisión de VastWealth -español

    XTB Review

    Sollari Review

    VastWealth Review

    Stockscale Review

    Fibinex.io Review

    Homefx-Plus Review

    StockHome.io Review

    LegacyFX Review

  • Broker Types
  • Forex & Fintech Jobs
  • News
No Result
View All Result
  • Home
  • Forex Broker Reviews
    • All
    • Preferred Brokers
    • Regulated Brokers
    • Unregulated Brokers

    Revisión de VastWealth -español

    XTB Review

    Sollari Review

    VastWealth Review

    Stockscale Review

    Fibinex.io Review

    Homefx-Plus Review

    StockHome.io Review

    LegacyFX Review

  • Broker Types
  • Forex & Fintech Jobs
  • News
No Result
View All Result
Forex Broker News
No Result
View All Result
Home News Forex Broker News fpmarkets

Trading Currencies: GBP, the gift that keeps on giving

Cable is the gift that just keeps on giving, short term trades keep popping up, but the longer-term trends since August remain intact, presenting other opportunities.

On the geopolitical front, Brexit is far from over and the first shots from the dispatch box from the Conservatives post the General Election confirms this.

All gains Cable had made from the election bounce have evaporated as Johnson announced in his opening address to the new Parliament. That he would “write Britain’s exit from the EU next year into law without an extension in the transition period.”

This decision to place a law-abiding time-limited on Brexit brings a ‘hard Brexit’ back into the frame.

This is why the 1-hour and 4-hour charts are flashing trend breakdowns as seen here.

1-Hour Chart

Table of Contents

  • 1-Hour Chart
  • 4-Hour Chart
  • 1-Day Chart
  • 1-Week Chart

4-Hour Chart

Why this timeline is such a risk, is that most had expected the “year-long” Brexit transition to December 2020, be extended into 2021 and even 2022 as trade negotiations with the EU will drag.

Therefore, if the last three years are anything to go by, seeing an agreement by end of next year would be difficult. Britain would likely exit the EU without a negotiated deal but one that is based on the World Trade Organization terms. Not being the outcomes the market wants and certainly the risky option for the UK economy, considering the EU is its biggest trading partner.  

That risk, however, hasn’t fully translated into the longer-term trends and the daily and weekly charts are showing that the uptrend in the pair remains, not only intact but could be signalling a ‘buy the dips’ scenario.

1-Day Chart

1-Week Chart

Both show that the up-channel remains strong and that a test of the lower range has not been reached. If, as expected the political discord continues to throw up risks followed by ‘resolve’ there is a clear pattern to remain long Cable into 2020.

It’s why Cable will be as exciting as ever as we move into a new stage of Brexit in 2020.

The post Trading Currencies: GBP, the gift that keeps on giving appeared first on FP Markets.

ADVERTISEMENT
Share198Tweet124ShareSend

Related Posts

fpmarkets

Customer Relationship Officer – Polish

November 26, 2022
fpmarkets

China – Marketing Manager

November 18, 2022
fpmarkets

Iress Clients Margin Changes

November 9, 2022
fpmarkets

Customer Relationship Officer – Vietnamese

November 8, 2022
fpmarkets

Australian market expected to open lower 31/12/19

November 5, 2022
fpmarkets

Australian market expected to open lower 30/12/19

November 5, 2022

Select one of the Best Forex Brokers for your Trading  |  Read the Reviews

Revisión de VastWealth -español

XTB Review

Sollari Review

VastWealth Review

Stockscale Review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money. forexbroker.news is an affiliated partner with various Forex brokers and may be compensated for referred Forex traders.

Risk Disclosure: Forexbroker.news assumes no liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and forex signals. Operations in the international foreign exchange market contain high levels of risk. Forex trading may not be suitable for all investors. speculating only the money you can afford to lose. Forexbroker.news remind you that the data contained in this website is not necessarily real-time and may not be accurate. All stock prices, indexes, futures are indicative and not appropriate for trading. Thus, Forexbroker.news assumes no responsibility for any trading losses you might incur as a result of using this data.You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Disclaimer: It is our organization's primary mission to provide reviews, commentary, and analysis that are unbiased and objective. While ForexBroker.News has some data verified by industry participants, it can vary from time to time. Operating as an online business, this site may be compensated through third party advertisers. Our receipt of such compensation shall not be construed as an endorsement or recommendation by ForexBroker.News, nor shall it bias our reviews, analysis, and opinions.

  • Privacy Policy
  • Contact US
  • Terms of use,

Copyright © 2020 forexbroker.news

No Result
View All Result
  • Home
  • Forex Broker Reviews
  • Broker Types
  • Forex & Fintech Jobs
  • News

© 2020 https://forexbroker.news - Forex Broker news & magazine