GBPUSD-Weekly Market Analysis-Dec19,Wk2

Apologise to the English Viewers for missing out the bearish shark pattern for a better chance entry.

As mentioned on the video, this week GBPUSD on 12Dec19 there is a General Election, to me, this is as good as the 2nd referendum for Brexit.

I'm not so much looking at if Brexit party win UK Pound will fall or Brestay party win UK Pound will rise, is more of the majority vote is given to either party, UK Pound will rise and if the result came in just as divided as the Brexit 1st referendum, UK Pound will fall hard.

Traders who decide to engage the trade-in, either way, have to be careful of:
1) Market Whipsaw
2) Spread Widening

Traders who have engaged the trade may consider this. Leave target2 open or extended target as a market expansion is expected why not look for 2nd support or resistance area as final target profit.

If uncertain, avoid all GBP and EUR related pairs.

Commentaire:

It has shown is witness, right now I will be waiting for a type2 bearish shark to engage the trade.