#Brent #SP500 It’s almost funny, European media spending months with dreadful stories about how the UK is coping with Covid-19. Suddenly, a taste of reality without tourists #GBPEUR income and an encouraging new concept called “Air Bridges” allows travel to France, Greece, Spain, and Portugal from 6th July has appeared. As they say, money solves most problems…
We wonder if Brits abroad shall be required to wear a bell around their neck, warning other nationalities of their presence? It’s certainly going to be an interesting development to the entire pandemic story, if the much vaunted 2nd Wave of infection occurs. What’s amusing about the entire shambles is this year,2020, is behaving like a standard Science Fiction story. A favourite plotline features someone time-travelling and accidentally changing something, then time-travelling again to fix the problem and making it worse. This sort of silly storyline continues until a world is created where “Star Wars” is thought to be entertaining, yet “Mrs Maisel” is virtually unknown!
There’s no point in revisiting our last look at GBPEUR as the Covid-19 drop achieved our miserable drop targets. Visually, there appears danger, yet again, of some reversal but we’re inclined to emplace a fairly distant trigger level.
At present, there’s the threat of weakness below 1.0888 bringing reversal to an initial 1.0677 with secondary, if broken, down at 1.0151. We would hope for a rebound, if this secondary makes itself known. Visually, our initial drop target level at 1.067 should prove capable of giving some sort of bounce, if only thanks to the presence of the Red uptrend since 2009. The Big Picture problem with our secondary at 1.015 takes the currency pairing into the land of lower lows, making any recoil liable to be short lived until the relationship finally succumbs to the temptation of parity for a while.
For things to suggest GBP is strengthening against the Euro, the pair requires to trade above 1.1727 to convince us. Despite the post-Covid-drop recovery of 1.15 presenting a visual trigger level, we’re inclined to make greater demands as the relationship needs exceed Blue on the chart to enter a cycle to an initial 1.199 with secondary, if exceeded, a rather more attractive looking 1.248 and beyond.
|Time Issued||Market||Price At Issue||Short Entry||Fast Exit||Slow Exit||Stop||Long Entry||Fast Exit||Slow Exit||Stop||Prior|
26/06/2020 FTSE Closed at 6159 points. Change of 0.2%. Total value traded through LSE was: £ 4,704,232,985 a change of 0.38%
25/06/2020 FTSE Closed at 6147 points. Change of 0.39%. Total value traded through LSE was: £ 4,686,605,937 a change of -15.87%
24/06/2020 FTSE Closed at 6123 points. Change of -3.12%. Total value traded through LSE was: £ 5,570,618,425 a change of 6.1%
23/06/2020 FTSE Closed at 6320 points. Change of 1.22%. Total value traded through LSE was: £ 5,250,584,442 a change of -0.97%
22/06/2020 FTSE Closed at 6244 points. Change of -0.76%. Total value traded through LSE was: £ 5,301,930,883 a change of -54.04%
19/06/2020 FTSE Closed at 6292 points. Change of 1.09%. Total value traded through LSE was: £ 11,536,633,427 a change of 155.43%
18/06/2020 FTSE Closed at 6224 points. Change of -0.46%. Total value traded through LSE was: £ 4,516,542,486 a change of -22.67%