UK Pound v The Euro for 7/05/2019

We last reviewed #GBPEUR back in February, (link here) successfully calculating a target level which has now been achieved. With such levels of political uncertainty, coupled with what often appears wilful political incompetence, we quite genuinely had doubts as to anything actually happening. #BRENT

Now, with the ball kicked down the beach for a while, the calculation allowing for 1.20 next remains valid but the pairing really needs move beyond 1.1810 to give a suspicion the next leg up is beginning. Unfortunately, rather than 1.20, we suspect a future rise shall stall first around 1.1925 before heading to the 1.20 level and an almost certain glass ceiling.

Only once the relationship actually closes above 1.20 shall we dare sing the virtues of 1.240 and beyond.

If trouble is coming, the pair requires weaken below 1.15 to indicate coming travel down to 1.1285. In itself, this is not a particularly scary movement but the real danger shall appear if they close a session below 1.128. Such a scenario runs the risk of triggering reversal to 1.08 initially. This takes the pairing into a zone where 1.03, perhaps even parity, becomes very possible.

For now though, there is considerable hope we shall see moves in the future beyond 1.181, once again strengthening the pound  (to the surprise of everyone!)

FUTURES

3/05/2019 FTSE Closed at 7380 points. Change of 0.39%. Total value traded through LSE was: £ 5,320,179,357 a change of -4.47%
FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

9:34:42PM

BRENT

71.38

69.95

68.78

66.75

71.65

71.63

72.055

73.19

70

Success

9:45:54PM

GOLD

1280.49

               

Success

9:47:28PM

FTSE

7398.86

               

9:49:58PM

FRANCE

5503.7

               

9:53:25PM

GERMANY

12328.98

12217

12167.5

12070

12257

12340

12441.75

12486

12240

‘cess

9:56:46PM

US500

2932.37

               

‘cess

9:59:02PM

DOW

26449.7

               

10:00:58PM

NASDAQ

7777

               

10:03:13PM

JAPAN

22089

               

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