Brexit uncertainty hits GBPUSD

Russell Shor, CFTe, MFTA FXCM

The above is a daily chart. Cable has run into overhead resistance. Today’s price action (still to complete) is severe to the downside. Brexit uncertainty still abounds and each day brings a new and different headline. If price continues down over the next few trading sessions, we may see a double top charting (green ellipses). Today’s headline indicates the several cabinet minister may resign if Prime Minister May agrees to keep the UK in a customs union without a defined exit date. The 27 Nov has been pencilled in as a Commons voting date on a Brexit deal.

Author

Russell Shor, CFTe, MFTA

FXCM

Russell Shor (MSTA, CFTe, MFTA) has an Honours Degree in Economics from the University of South Africa and holds the coveted Certified Financial Technician and Master of Financial Technical Analysis qualifications from the Interna

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