Trading signals

GBP/USD

GBPUSD

The pound ignored poor data when Brexit Party’s leader expressed support for Conservatives. This news boosted the pound upwards.

 

The main scenario is a new leg higher to 1.2940. 

An alternative scenario assumes a decline to 1.2800.

 

Trading recommendations

 

Buy the Cable to 1.2940 when the rate leaves 1.2870 behind.

Sell the pair to 1.2800 after a sustained break through 1.2850.

 

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