Reiterates others thoughts saying take it or leave it…..
- British must explain what Brexit delay would bring
- Any Brexit delay mush have a purpose
- Any Brexit solution to Brexit is in London, world not waiting.
The GBPUSD reached just shy of the low of the next target at 1.3131-41 (the high reached 1.32302 – see last post). Sellers against that area are hoping for an end of the trend. Looking at the 5-minute chart below, the pair’s last run higher took the price from 1.3173 to 1.3230. IN the process, the pair did move above the 1.3200 level and a topside trend line at 1.3210 now. The 50% of that move comes in at 1.3202. If the high is in place against the next target, a move below the 1.3210 and then the 1.3202 (calll it 1.3200) is needed. Without it, the buyers are still more in control intraday.
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