Cable Update (GBPUSD)

Using big letters is impressive

Ignored.

I'll remind you of that 1.37 idea .

Market for future ridicule...

No I don't care what frame or what excuses you'll say.

Where do you find these stats? Thanks!

someone sent that to me on twatter but...

https://tradingeconomics.com/united-...oney-supply-m2

Just follow the market. GBPUSD M15 chart plan to buy @ 1.3425 with a target 261 of the fibonanncy level @ 1.3477. this scenario is canceled if the price @ 1.3419 breaks. This is my trading plan on Monday. I hope we can gain profit together.
I hope we can gain profit together

Agreed with u. Pound heading south, 1.20. Current resistance level, hold

That's if we don't see a gap on the Downside

Because it’s finite & de centralised

always been a believer.

New stimulus Bill could come as early as Monday

ft headline

-53 points now back in the 13300’s

saxo pre-market 1.3352

Investors and banks have predicted that a deal will eventually be done, so a no-deal would hit sterling, according to major foreign exchange traders.

The shock referendum result on June 24, 2016 sent the pound down 8% against the U.S. dollar, its biggest one-day fall since the era of free-floating exchange rates began in the 1970s.

That was nearly double the 4.3% drop on Sept. 16, 1992, when financier George Soros "broke the Bank of England" after his bets against the pound were instrumental in the currency's exit from the European Exchange Rate Mechanism.

TRADE
Overnight Britain would lose zero-tariff and zero-quota access to the European Single Market of 450 million consumers.
Britain would default to World Trade Organization (WTO) terms in its trade with the 27-state bloc, making it in effect as distant to its biggest trading partner as Australia.

Britain would impose its new UK global tariff (UKGT) on EU imports while the EU would impose its common external tariff on UK imports. Non-tariff barriers could hinder trade, with prices predicted to rise for consumers and businesses.
Borders risk disruption, especially the main crossing points, with shortages of certain foods possible as Britain imports 60% of its fresh food.

Any disruption would be felt most keenly by sectors that rely on just-in-time supply chains, including autos, food and beverages. Other sectors likely to be affected would include textiles, pharmaceuticals, and chemical and petroleum products.

The EU is Britain's biggest trading partner, accounting for 47% of its trade in 2019. It had a trade deficit of 79 billion pounds ($106 billion) with the EU, a surplus of 18 billion in services outweighed by a deficit of 97 billion pounds in goods.

Even with a deal, Britain's reasonable worst-case scenario is that 7,000 trucks bound for the continent could stack up in the southern English county of Kent.

A no-trade deal would wipe an extra 2% off British economic output in 2021 while driving up inflation, unemployment and public borrowing, Britain's Office for Budget Responsibility (OBR) has forecast.

The OBR said tariffs under WTO rules and border disruptions would hit parts of the economy such as manufacturing that were emerging relatively unscathed from the COVID-19 pandemic.

The long-term hit could be costly for both Britain and the 27 remaining EU members. Germany, Europe's biggest economy, is Britain's biggest EU trading partner.
The shock would be felt unevenly across continental Europe, with those likely to be hit worst including Ireland, the Netherlands, Belgium, France, Luxembourg, Malta and Poland.

The Halle Institute for Economic Research has forecast that EU companies exporting to Britain could lose more than 700,000 jobs if no trade deal is agreed.

NORTHERN IRELAND

Both sides want to avoid a hard border between the United Kingdom's Northern Ireland and the Republic of Ireland in the EU. Implementing the Northern Ireland protocol of the 2020 Brexit Treaty will be complicated without a trade agreement.

Under the treaty, Northern Ireland remains, in effect, in the EU's single market for goods and aligned to its customs rules after Dec. 31 unlike the rest of the United Kingdom.
Exactly how checks, regulations and paperwork will work between Britain and Northern Ireland is not yet clear. But without a trade deal, the divide between Britain and Northern Ireland would become more distinct.

Brexit without a trade deal could allow Northern Ireland to become a back door into the EU's single market, thus raising the spectre of a hard border on the island of Ireland for the first time since a 1998 peace deal.

The 1998 Good Friday Agreement brought an end to three decades of sectarian violence between mainly Protestant Unionists who favour continued British rule and mainly Catholic Irish Nationalists who want a united Ireland.

Those that entered at 1.35+ and had the guts to hold over the weekend will be rewarded.
I entered a short at IG over the weekend (thanks to Catempire for the idea), but with a position much smaller than usual.

Usually GU does not open with such big gaps, but situation is not usual... To go to the support already in the pre-market is remarkable. If it does open with a big gap, I wonder if GU will try to rebound over the course of the day, or we will just see a straight sell-off.

I believe we will see a rebound mate.. last chance saloon.

GBPUSD price is 1.33591 now, GAP DOWN

Well, many still went long even there...or are still holding longs. Not much reward for those.

i hope it will hold until the open .
we have 2 hours until that

Bones.

This is a government document of the possible issues of a no deal, the one they didn’t want to release.

might want to take it into account when basing your analysis on not much more than gdp, fish & Tariffs... as you said, in your own words.. it requires a little more thought.

happy to help you out.

Concurrent events’ ‘financial instability’ ‘commercial failure’ these are just the headlines. ‘There is a notable risk of disruptive concurrent events happening towards the end of 2029’ ‘A financial crisis may increase other risks such as public disorder & mental health’

The pandemic has limited capacity of healthcare sector to prepare’ ‘Critical supply chains will come under pressure, particularly medical ones’ ‘Councils...at high risk of financial failure’

The document assesses 20 critical areas according to a traffic light system Border disruption - red UK nationals in EU - red Oil supply - amber Chemical supply - amber ‘Border disruption could lead to disruption in supply of critical chemicals for food, water, medicine’

Low income groups will be disproportionately affected by any rise food in food prices’ ‘Groups most at risk of food insecurity include: lone parents & children in large families’ ‘One or more water companies cd face significant disruption to the supply of essential chemicals’

Public disorder - red ‘Protests & counter protests across UK..risk of Covid’ Law enforcement- red ‘A mutual reduction in ability to combat crime & terrorism’

Continuity of medical supplies’ - red ‘Flow rates could reduce by 60-80 per cent’ ‘Adult social care’ - amber ‘Main risk is provider failure though acutely aware of labour & workforce pressures’

But yes of course I’m sure we’ll just do business with another country & they need us far more than we need them & will be begging.

I do wonder how long it’ll be till even the fishermen regret their vote...