Products You May Like
May: to stay or go away
Earlier in the session there was some rumours that May had some ‘big’ news to share. That rumour was denied, but as the old saying goes. ‘there is no smoke without fire’. So, keep you eyes peeled on the GBP/USD pair. It may even be worth having a speculative sell on stop with a trailing stop on GBP/USD in case there is some ‘big news’ after all. At the moment the 100EMA has contained price and the next target below is the 100 EMA
Regardless of whether May stays or go today, Brexit is in trouble. The EU are not shifting and the Chequers plan is bombing. May is running out of options other than to just try and grind it out. That may be what’s needed, and what succeeds. In the meantime keep an eye out on the GBP 50EMA risk above and 100EMA risk below.