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Showing posts with the label brussels

Dollar rallies across the board

Euro fell 100 pips , so is sterling and gold tumbled 10$ to trade currently at 1234$ . brexit news are putting alot of pressure on all currencies against the dollar. Keep selling the euro , sell it anywhere between 1.13$ to 1.1320$ with target 1.1120$ There is a big chance we will have a second EU referendum on brexit.

Updates on brexit news

austria's bluemel says deal on the table is the best possible solution, not a good idea to re-start negotiations . Todays key event is the unemployment report; as of now, the unemployment rate in the uk stands at 4.1 percent and median estimate suggests it is likely to remain same. gbpusd is currently trading around 1.26$ , next resistance lies at 1.2640$ followed by 1.2670$ while support lies at 1.2540-60$ . Theresa may postponed the vote of parliament on brexit deals she had with brussels and donald tusk stated that this deal or no deal , looks like there will be no more negotiations and we are very close to no deal or may be canceling brexit at all which only needs decision from the uk without getting back to european union. Personally , I expect there will ve no confidence vote soon or theresa may will resign first.

Sterling falls to 1.26$

Sterling falls more than 100 pips on the news of theresa may heading back to Brussels for the brexit deal.  Sterling was trading at 1.2725$ before the news and now trading at 1.2610$ , a level not seen since June 2017.  Next support for cable lies at 1.2560$ while resistance lies at 1.2640$  Volatility surges ahead of the vote on brexit deal. Take care and you better avoid trading any GBP pairs today