The markets adjust their Brexit calculations

The markets adjust their Brexit calculations

From economist.com

SOMETIMES the markets are genuinely surprised. On the morning of April 18th, news that the British prime minister was to make an announcement at 11.15am caused the pound to dip. What could the news be? Retirement due to ill health? Several pundits went on Twitter to proclaim their belief that it would not be an early election; after all, Theresa May, the prime minister, has said repeatedly that the poll would not occur until 2020. But the news was indeed that an election will happen on June 8th. The pound then stormed higher and is now more than $1.28, around its strongest level this year (but well below the $1.50 ... (full story)

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Comment #1
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Apr 20, 2017 5:10am Apr 20, 2017 5:10am

Bakker
Joined Jun 2011 | Status: Member | 2807 Comments | Online Now

Cable has touched a previous support level at 1.2903 which is now resistance, see weekly chart of GBP/USD for a clear view.

Comment #2
Quote
Apr 20, 2017 5:21am Apr 20, 2017 5:21am

Bakker
Joined Jun 2011 | Status: Member | 2807 Comments | Online Now

Will test that level soon.

Comment #3
Quote
Edited 6:00am Apr 20, 2017 5:48am | Edited 6:00am

althar
| Joined Apr 2011 | Status: Member | 467 Comments

Quoting Bakker

Disliked

Cable has touched a previous support level at 1.2903 which is now resistance, see weekly chart of GBP/USD for a clear view.

Ignored

Well, to me, the real decisive SR level is 1,277-1,279. Next level to watch is falling TL around 1,296. If this line is broken, cable might end up in upper 1.30s.
But it's only me

Comment #4
Quote
Apr 20, 2017 5:54am Apr 20, 2017 5:54am

Centari
| Membership Revoked | Joined Feb 2017 | 65 Comments

Quoting Bakker

Disliked

Cable has touched a previous support level at 1.2903 which is now resistance, see weekly chart of GBP/USD for a clear view.

Ignored

I will zap that soon! Over bought, but good fundamentals nevertheless!

Comment #5
Quote
Apr 20, 2017 6:57am Apr 20, 2017 6:57am

Pleiadian
Joined Oct 2009 | Status: Member | 595 Comments

There is a gap down in GBPUSD on the weekly chart, W25/W26 2016, or monthly chart, Sept16/Oct16, which has not been filled. Gaps always get filled.

Don't wait for the wind, take to the oars.

Comment #6
Quote
Apr 20, 2017 4:22pm Apr 20, 2017 4:22pm

spzd
Joined Dec 2010 | Status: Hybrid PA | 224 Comments | Online Now

Quoting Pleiadian

Disliked

Gaps always get filled.

Ignored

Not necessarily. The gap from 2007.11.12 GBP/USD has not been filled.

Mark ... Either you understand or you don't, and that is that.

Comment #7
Quote
Apr 20, 2017 7:22pm Apr 20, 2017 7:22pm

Pleiadian
Joined Oct 2009 | Status: Member | 595 Comments

Quoting spzd

Disliked

{quote} Not necessarily. The gap from 2007.11.12 GBP/USD has not been filled.

Ignored

It will when the price eventually rises above 2,100

Don't wait for the wind, take to the oars.

Comment #8
Quote
Apr 21, 2017 4:09am Apr 21, 2017 4:09am

cyguy
| Joined Dec 2014 | Status: Crazy prospector | 54 Comments

Quoting spzd

Disliked

{quote} Not necessarily. The gap from 2007.11.12 GBP/USD has not been filled.

Ignored

in 2020? lol

Story Stats

Posted: Apr 20, 2017 4:20am
Submitted by:
Newsstand

Category: Fundamental Analysis

Comments: 8 / Views: 3,530