Signs of a smooth Brexit are not visible at the moment. As mentioned yesterday, my preference it to look for short setups. This pair is fully capable of moving upward 80 or more pips in a blink – if a headline were to surface giving traders reasons for optimism toward Brexit. In the meantime, keeping a tight stop loss and locking in profits is my preferred strategy.
Today after the London open we had a quick push downward followed by a pullback and reversal setup. We entered short risking 14 pips for a potential 41 pips to our daily target at 1.2953.
The USD continues to show moderate strength today and the EUR, GBP, AUD & NZD look safer to short to my eyes.
Good luck with your trading!
