Buying the pound is one of the best deals in FOREX
American races in the gold and oil markets, caused by the escalation of the conflict between the US and Iran, diverted the attention of traders and analysts from the UK and the pound. As a result, the latter, together with the dollar, even yesterday tried to test the key support of 1.30.
At the same time, the news that on Thursday the House of Commons of the British Parliament approved the bill on Britain’s exit from the European Union went completely unnoticed. 330 Johnson voted for Johnson’s agreement, 231 against. Once again: an event took place, to which Britain went for several years, and the pound has not changed by a hundred points.
Just in case, we recall that in the spring of 2018, only on the expectations of the transaction, when it was still very far from the vote, the pound rose to 1.41-1.43.
Now there is not only a deal on the table with all its conditions, but also a parliamentary vote for this very deal.
We consider this situation to be completely abnormal. The pound has clearly accumulated upside potential and is only waiting for the team. Recall that the growth potential of the GBP/USD pair is measured in hundreds of points and our goal for 2020 remains unchanged - 1.41. From current prices, it is more than 1000 profit points!
As for the reasons for concern (Johnson deadlines, the possible easing of monetary policy by the Bank of England, weak economic data), most of them are either hypothetical threats, not actual ones, and some play into the hands of a successful Brexit rather than against it.
For example, recently published statistics on annual retail sales in the UK. The data for the first time in the history of observations have gone into the negative zone! Causal relationships with Brexit can be seen quite clearly. But we see this as an extremely clear signal that the only way to prevent a crisis in the economy is to agree with the EU on a trade agreement and minimize damage. That is, weak data, paradoxically, strategically play into the hands of the pound, as they increase Johnson’s tractability and contractability.
At the same time, the news that on Thursday the House of Commons of the British Parliament approved the bill on Britain’s exit from the European Union went completely unnoticed. 330 Johnson voted for Johnson’s agreement, 231 against. Once again: an event took place, to which Britain went for several years, and the pound has not changed by a hundred points.
Just in case, we recall that in the spring of 2018, only on the expectations of the transaction, when it was still very far from the vote, the pound rose to 1.41-1.43.
Now there is not only a deal on the table with all its conditions, but also a parliamentary vote for this very deal.
We consider this situation to be completely abnormal. The pound has clearly accumulated upside potential and is only waiting for the team. Recall that the growth potential of the GBP/USD pair is measured in hundreds of points and our goal for 2020 remains unchanged - 1.41. From current prices, it is more than 1000 profit points!
As for the reasons for concern (Johnson deadlines, the possible easing of monetary policy by the Bank of England, weak economic data), most of them are either hypothetical threats, not actual ones, and some play into the hands of a successful Brexit rather than against it.
For example, recently published statistics on annual retail sales in the UK. The data for the first time in the history of observations have gone into the negative zone! Causal relationships with Brexit can be seen quite clearly. But we see this as an extremely clear signal that the only way to prevent a crisis in the economy is to agree with the EU on a trade agreement and minimize damage. That is, weak data, paradoxically, strategically play into the hands of the pound, as they increase Johnson’s tractability and contractability.
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