Forecast – BEARISH

Date Posted:       18 December 2019

Currency Pair:     GBPUSD

Current Trend:    UP

Forecast Move:    DOWN

Key Tech Level:    1.3100

Potential Opportunity

Trade Action:   SELL

Stop Loss          1.3138              -50 pips

Entry                  1.3088

Take Profit        1.2738            +350 pips

Outcome:

Chart & Forecast Details

Sterling couldn’t have had a better outcome from the recent election. But all that positive euphoria has disappeared as the reality of a no-deal Brexit looms. The fact that UK PM Johnson is talking about finalising the deal by the end of 2020 has traders unwinding all long GBP positions.

Key Trade Day: Wednesday 19th Nov – UK CPI

Brad Gilbert

CEO & Founder of Traders4Traders – Brad has been trading for 28 years and was a former Chief FX Trader for Citibank. Brad trades all markets and all timezones.

Trades: EUR, GBP, AUD, NZD, CAD, JPY, CHF, DOW, SP500, OIL, GOLD

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