[GBP] Falling Pound 2019 0618

GBP/USD weekly chart, source:FXDD.com

cf. [GBP] Triangle pattern and Brexit 2019 0412

We need to observe the plutonomic situation watching news stories as we do on euro.

As we are informed, the main issue on British pound is Brexit. Brexit risk moves cable down. European Union agreed the deadline of Brexit to move to October 31. But the failure of English parliament vote has made Prime Minister Therese May spoke her resignation on May 24. The ruling Conservative Party prepares to elect new leader of the party and the cabinet.

Boris Johnson, former Minister of Foreign Affairs is a leading candidate of the election, and he has spoken Brexit and he doesn't care 'No Deal Brexit', Brexit without any agreement.

There is high possibility of Hawkish Johnson is elected as a Premier, and market worries 'No deal Brexit'.

The worry makes British Pound down.

In weekly chart of currency pair of GBP/USD, the price steps down since last year. The price failed to break through upper band of Bollinger band and 120 exponential Moving Average and is felling since February. Daily chart and four-hour chart don't give any hope of pound's recovery.

If pound rebounds, it will be the chance of selling pound and buying dollar.

While Brexit crisis, it is available to keep short bias to pound.





If you have any inquiries, you can send text to e-mail or social network below.

e-mail - kmuk001@gmail.com


Telegram - @morgenluft
Telegram broadcasting - t.me/gjallarhorn_report


https://www.facebook.com/Gjallarhorn.report/
https://www.facebook.com/heimdallr999/
http://morgenluft.blogspot.com



Gjallarhorn, Heimdallr, GBP, pound, 걀라호른, 헤임달, 파운드