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GBPUSD reaction after brexit vote





Theresa May's plan has been rejected by a historical vote which was a record , 432 rejected the deal against 202 MPs. She admitted the loss , but apparently , she is not resigning . She has the delusion that she is defending the brexit vote .



A second referendum is imminent or we may be blocked by a no-deal brexit which no one wants. May hasd spent months negotiating with the EU , that rejected deal and now there is a movement led by jeremy corbyn to oust her using the no-confidence vote.


GBP/USD , however is still holding around the 1.28$ figure , it fell sharply before the announcement of the vote results but soon , it reversed sharply reaching 1.2890$ area. Now the pair is trading around 1.2850$ with next and critical support at 1.2820$ marked by the orange horizontal line.

Buy anywhere near that area and hold. The pair is still volatile though and you should be careful and quit in case we close any 1 hour below that area around 1.2820$. 

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GBP/USD rejected by trendline

The Pair rallied on Friday till it got rejected by trend-line on below chart on the 4h time-frame. it is recommended to sell the pair on testing the trendline, if broken , you should be on the buyers side till 1.2430-60 area . It is recommended to go long as well if the pair managed to retest the 1.2290 area which will be an area of  intraday support for the pair .

Usdjpy analysis update

Dear traders , The pair broke the daily trend and the 200 DMA (daily moving average) and is currently testing a very important area as well which is 200 week moving average and weekly support area at 110.20¥ , which might support the pair and help it recover a modest recovery in short term to 112.20¥ The pair is seen trading between 105¥ and 116¥ during 2017 , it will be kind of range pattern rather than trending. It is still not clear wether the pair will maintain its pullish trend after trump victory back in november and its 1800 pips rally. So the pullback to 110¥ is very logical action and we might find more decline to 105¥ Choose your trading strategy wisely based on your trading behavior.