British political turmoil continues and a Brexit solution still appears to be far away.
As the U.K session got underway, price moved down to test yesterday’s lows and bounced upward to test its Asian session low. Price was unable to close above this level and and short was taken risking 17 pips for a potential 63 pips to our daily target at 1.2978.
Price moved lower but could not penetrate the big figure at 1.3000 and drifted sideways going into the U.S. session overlap. Price eventually closed beneath 1.3000 and immediately found buyers and continued to close back above this very important level today. We closed the trade after 3 candles higher.
The next couple of days could be quite volatile for the USD as the U.S. – China trade talks continue tomorrow in Washington. President Trump’s threat of 25% tariffs for China pending for this Friday, may or may not come to pass, depending on how the talks go.
Good luck with your trading!
