GBP/USD - sell on 2H - open at 1.306
Technical view:
- market price broke out from triangle and up trend channel this week and rebounced from first small support at 1.299
- MACD baselines going to cross bullish - this implement further up movement
- RSI rebounced from heavy over selled area which is bullish indicator for further up movement
- open short if daily candle close under trend line - this implements new down movement which we want to trade
Fundamental view:
In just a few days the EU's deadline for GB to leave the international community expires. So far it is completely unclear how the Brexit will be proceed. If the EU does not grant British Prime Minister Theresa May a postponement, it will most likely amount to a "no deal" or "hard" brexit. The next few days are decisive for the future of the country. As things stand at present, Great Britain is to leave the EU on Friday (12 April). To avoid a chaotic break in a few days, Prime Minister Theresa May has written to EU Council President Donald Tusk asking for a postponement until 30 June. Tusk on the other hand advocates a flexible extension of the withdrawal period by up to twelve months. The next few days are crucial. I expect a postponement until April 2020 because they won't find a solution in the next weeks/months
- market price broke out from triangle and up trend channel this week and rebounced from first small support at 1.299
- MACD baselines going to cross bullish - this implement further up movement
- RSI rebounced from heavy over selled area which is bullish indicator for further up movement
- open short if daily candle close under trend line - this implements new down movement which we want to trade
Fundamental view:
In just a few days the EU's deadline for GB to leave the international community expires. So far it is completely unclear how the Brexit will be proceed. If the EU does not grant British Prime Minister Theresa May a postponement, it will most likely amount to a "no deal" or "hard" brexit. The next few days are decisive for the future of the country. As things stand at present, Great Britain is to leave the EU on Friday (12 April). To avoid a chaotic break in a few days, Prime Minister Theresa May has written to EU Council President Donald Tusk asking for a postponement until 30 June. Tusk on the other hand advocates a flexible extension of the withdrawal period by up to twelve months. The next few days are crucial. I expect a postponement until April 2020 because they won't find a solution in the next weeks/months
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The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
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