ridethepig | EURGBP grinding higher

2 thg 12, 2020

Barnier comments on 'no deal is still possible' well illustrating the strategic skill of negotiation. UK has sadly been completely outplayed, not by any fault other than some simple Etonians sticking about fisheries which is 0.02% of GDP...Hard to understand how we ended up here, most £500m private companies would never dream of hiring Johnson as CEO or Sunak as CFO...Brexit was always political fairy-dust, a last despairing effort to continue the 'empire' which was immediately countered via the powerful Klaus Schwab at WEF and etc.

📍 The lows are now protected and in good shape.

Of course, you are right to think the threat is for them to sweep the lows, just like how buyers played the interesting line of sweeping the highs in GBPUSD before crashing:

I love it when a story comes together.

The next leg here is higher for EURGBP, London is vacating its seat at the table (in the short-term at least) and sharp speculators are well aware. Much better to look for a test of the highs here, as we shall see, an important few weeks. I completely understand why some voted for Brexit, unfortunately in such a scenario there is always the question: which carries more weight globally, the UK or the EU?

Thanks as usual for keeping the feedback coming 👍 or 👎

2 thg 12, 2020

Ghi chú

GBPUSD: