Brexit Vote
Okay, any GBP predictions?
A couple of articles, if you are not fully aware of this evenings vote...
1. https://www.bloomberg.com/news/articles/2019-01-14/may-faces-worst-government-defeat-in-95-years-in-key-brexit-vote?srnd=premium-europe
2. https://www.bbc.co.uk/news/uk-politics-46868194
I think the deal being rejected may be positive for GBP (initial downside but then a move higher). Surely a rejection of the deal will lead to great stability - either a softer brexit or a no brexit. Then again, markets don't like uncertainty.
Let's not share our opinions of the EU but share our thoughts on how GBP is going to react...
Interested to hear everyone's thoughts...
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Just looked at it. 1.20 on GBPCHF is the low for me (2016 on the Weekly), pretty close to you - the stop would need to be 1.17 or less though. Could be a great opportunity to go long for the next 6 months / 3 years -assuming the swap rate is positive.
Would have to be on my larger account though, that's a 500pip or so stop loss.