#10– 11.09.2014
The Scottish referendum vote takes place one week from today on the 18th September 2014.
Between now and then, we will see politicians running around like headless chickens traveling north from Westminster to both Edinburgh, Glasgow and beyond to try persuade voters to vote NO and stay in the union.
As usual politicians are reactive and although this vote has been in the diary for over a year, they are in my eyes guilty of complacency and are now making promises to the Scottish voters that were NOT there before is the hope of changing their voting intentions. This is what you call last minute.com.
A typical blunder from politicians based upon their activists and alleged researchers not understanding the man on the street in Scotland. Not being aware of the build up of feeling that they did not ever receive a fair “slice of the cake” when repeating governments of all parties ignored the north in favour of London and the South-East. The Scots believe that North Sea oil was squandered by Westminster and that Scotland should have benefited more from oil revenues. Using the monies generated to attract more business north of the border.
The statements may not be totally fair but it is what the Scottish voter believes. It is what it is and the politicians in Westminster ignored it. Now it's a full-on panic.
Due to this complacency the NO vote has been gaining momentum and eventually a poll was released showing the YES vote in front. It was only by 1%, but that is enough to send politicians to Heathrow to fly north and beg for votes.
It is too close to call whether the decision will be YES or NO.
From a Forex perspective, this weekend the UK press will have study after study, poll after poll about who is going to vote what way and why.
The GBP will be fodder to the UK press and the number of politicians out on TV programmes providing sound-bytes promising what cannot be promised.
We had a GBP/USD GAP down last weekend of 150 pips and in the 24-hour trading period the GBP/USD fell over 225 pips.
· I trade FULL-TIME
· I have been trading 7 years
· I will not take on unnecessary risk.
This weekend if you have any GBP related trades open, given the high chance of wild volatility you could run the risk of an open on Sunday evening hundreds of pips in the wrong direction of your trade.
Why take on this risk?
It is pure guesswork as to the outcome of the referendum. It is also pure speculation about the way that the newspapers are going to slant their editorials this weekend.
Be careful…
The safe approach is to exit all GBP related trades before the close tomorrow night 12th September 2014.
Scott Pickering
The Pip Accumulator
FIREWORKS ON THE HORIZON FOR GBP -
CAREFUL WITH OPEN TRADES THIS WEEKEND
The Scottish referendum vote takes place one week from today on the 18th September 2014.
Between now and then, we will see politicians running around like headless chickens traveling north from Westminster to both Edinburgh, Glasgow and beyond to try persuade voters to vote NO and stay in the union.
As usual politicians are reactive and although this vote has been in the diary for over a year, they are in my eyes guilty of complacency and are now making promises to the Scottish voters that were NOT there before is the hope of changing their voting intentions. This is what you call last minute.com.
A typical blunder from politicians based upon their activists and alleged researchers not understanding the man on the street in Scotland. Not being aware of the build up of feeling that they did not ever receive a fair “slice of the cake” when repeating governments of all parties ignored the north in favour of London and the South-East. The Scots believe that North Sea oil was squandered by Westminster and that Scotland should have benefited more from oil revenues. Using the monies generated to attract more business north of the border.
The statements may not be totally fair but it is what the Scottish voter believes. It is what it is and the politicians in Westminster ignored it. Now it's a full-on panic.
Due to this complacency the NO vote has been gaining momentum and eventually a poll was released showing the YES vote in front. It was only by 1%, but that is enough to send politicians to Heathrow to fly north and beg for votes.
It is too close to call whether the decision will be YES or NO.
From a Forex perspective, this weekend the UK press will have study after study, poll after poll about who is going to vote what way and why.
The GBP will be fodder to the UK press and the number of politicians out on TV programmes providing sound-bytes promising what cannot be promised.
We had a GBP/USD GAP down last weekend of 150 pips and in the 24-hour trading period the GBP/USD fell over 225 pips.
· I trade FULL-TIME
· I have been trading 7 years
· I will not take on unnecessary risk.
This weekend if you have any GBP related trades open, given the high chance of wild volatility you could run the risk of an open on Sunday evening hundreds of pips in the wrong direction of your trade.
Why take on this risk?
It is pure guesswork as to the outcome of the referendum. It is also pure speculation about the way that the newspapers are going to slant their editorials this weekend.
Be careful…
The safe approach is to exit all GBP related trades before the close tomorrow night 12th September 2014.
Scott Pickering
The Pip Accumulator
Some thoughts to help you trade more consistently