GBPEUR on 29/01/2020

#FTSE #Japan As England lurches toward Brexit, a nation captivated by the idea opening graphics from “Dads Army” were actually instructions for the future, we remain utterly fascinated at the possible behavior of many markets post-Brexit. #GBPEUR, trading at 1.1811, is a case in point, now starting to look potentially strong!

On December 12th, the pairing closed the session at 1.2046, marginally above a Glass Ceiling trigger level of 1.2039. In normal circumstances, we’d now be fairly relaxed, especially as it next requires movement above 1.2025 to trigger near term growth to 1.2169. This is pretty significant.

By attaining such a target, the pairing will be seen as comprehensively breaking the Glass Ceiling, entering a region where future movement to 1.263 is expected, perhaps even a long term 1.327.

Unfortunately, this is Foreign Exchange, a market with an exquisite sense of humour.

It will be perfectly possible for Forex to open for trading on Monday 3rd February and decide;’hey, that’s a surprise. The UK has left Europe!’ and promptly gap the pairing down at the start of trade.

Any movement below 1.164 is liable to prove especially nasty, taking the relationship into a region with an initial 1.125 expected. If broken, it could hopefully bottom at 1.103. The big problem in such a scenario is “bottom” eventually could calculate at 1.01 – or worse. However, we would expect a real rebound if 1.01 made its presence felt.

Hey, chart goes here

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

10:06:31PM

BRENT

59.32

               

10:09:22PM

GOLD

1568.04

               

Success

10:13:32PM

FTSE

7491.87

7441

7434.5

7400

7484

7516

7543.5

7595

7438

10:16:10PM

FRANCE

5914.2

               

Success

10:23:44PM

GERMANY

13343

               

‘cess

10:26:07PM

US500

3285.72

               

Success

10:28:17PM

DOW

28823

               

‘cess

10:30:39PM

NASDAQ

9121.49

               

Success

10:33:33PM

JAPAN

23369

23012

22997.5

22863

23107

23396

23426.75

23486

23238

Shambles

28/01/2020 FTSE Closed at 7480 points. Change of 0.92%. Total value traded through LSE was: £ 5,106,872,635 a change of -10.29%

27/01/2020 FTSE Closed at 7412 points. Change of -2.28%. Total value traded through LSE was: £ 5,692,912,952 a change of 6.13%

24/01/2020 FTSE Closed at 7585 points. Change of 1.04%. Total value traded through LSE was: £ 5,364,214,029 a change of -0.13%

23/01/2020 FTSE Closed at 7507 points. Change of -0.85%. Total value traded through LSE was: £ 5,371,375,210 a change of -4.17%

22/01/2020 FTSE Closed at 7571 points. Change of -0.51%. Total value traded through LSE was: £ 5,604,978,241 a change of 11.63%

21/01/2020 FTSE Closed at 7610 points. Change of -0.54%. Total value traded through LSE was: £ 5,020,947,785 a change of 18.76%

20/01/2020 FTSE Closed at 7651 points. Change of -0.3%. Total value traded through LSE was: £ 4,227,858,188 a change of -33.49%

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