That happened yesterday, during the sudden announcement by the UK Prime Minister Theresa May that there will be a snap general election on 8th June this year due to her opponents’ disagreements with Brexit. She also stressed that decision was taken in the name of stability. The Prime Minister’s Conservative Party currently has 330 out of the 650 seats in the House of Commons and winning a bigger majority would give her more room to maneuver regarding Brexit-related decisions.
Regarding the technical analysis picture:
GBP/USD jumped to the upside with 400 pips and at the moment it is around 1.2780.
I expect a corrective drop to around 1. 2770 – 1.2675 and then a renewal of the move to the upside. If the pair climbs to the limit of the triangle, it could reach 1.3380 – 1.3400.
Good tip! I'll keep it in mind.
ReplyDeleteGood post!
ReplyDeleteIt's consolidating sideways for now.
ReplyDeleteWell spotted, will keep it in mind!
ReplyDeleteGood insight.
ReplyDeleteGood take on markets, really insightful.
ReplyDeleteWell spotted! Thanks for sharing it.
ReplyDeleteA small gap up.
ReplyDeleteGood post.
ReplyDelete