GBPEUR for 6/08/2019

#Gold #Nasdaq Forex can be a blooming nuisance. When GBPEUR managed to hit our 1.085, normally we’d hope for a rebound of some substance. Unfortunately, the relationship faltered slightly below target, forcing us to actually work at projecting the next phase. Assuming the politicians involved achieve their usual standard of competence, the future looks pretty vile. But really cheap for tourists coming from Europe!

We’re no longer entirely confident this pairing shall bounce convincingly, thanks to our target level breaking. Instead, weakness now below 1.083 looks like entering a fresh cycle down to an initial 1.0700. If broken, secondary calculates at 1.0337. Allegedly, the relation almost must experience some recovery at such a level, if only to generate sufficient weight for longer term drops! Make no mistake, by any standards GBPEUR is officially horrible as the longer term calculation claims a gravitational attraction is being exerted from a distant looking 0.84.

To get out of this mess, Sterling needs recover above BLUE on the chart, presently at 1.145. A miracle such as this calculates with 1.588 as an initial ambition with secondary, if bettered, up at 1.200.

In summary, it starts to appear UK Goods shall be extremely attractive as exports to Europe in the event of Brexit. Of course, whether anyone will be able to export from the start of November is the big question, if a trade arrangement  remains absent. Perhaps we shall witness the situation with small boats crossing the channel from Europe, loaded with illegal migrants then returning to France loaded with illegal Scotch & Gin!

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

10:07:23PM

BRENT

60.09

               

Success

10:11:02PM

GOLD

1464.7

1450

1444.5

1436

1462

1470

1479

1492

1454

Success

10:15:48PM

FTSE

7161.82

               

Success

10:24:28PM

FRANCE

5221.2

               

Success

10:28:05PM

GERMANY

11552.45

               

Success

10:36:24PM

US500

2826.02

               

Success

10:45:14PM

DOW

25566

               

Success

10:48:00PM

NASDAQ

7367.12

7351

7245

7131

7453

7477

7517

7553

7409

Success

10:50:05PM

JAPAN

20200

               

Success

5/08/2019 FTSE Closed at 7223 points. Change of -2.48%. Total value traded through LSE was: £ 6,514,005,349 a change of -7.03%

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