GBP/USD: Huge Volatile Swings The Norm This Week

Straight move up in another blockbuster 300 pips + spike as the market perceives as a GBP positive the vote to reject a “no deal” Brexit scenario.

The passage of the most recent bills through the UK parliament does not fully eliminate the risk of a so-called “hard Brexit” as the ball is still in the EU’s courtyard to make a final call.

Technicals are overextended post the late GBP upthrust which has failed to find acceptance above the 1.3350 but still plenty of demand pockets nearby as the green lines indicate.

If you are trading the Pound, it continues to be wise to adjust your normal trade and stop size to accommodate the increasing amount of volatility this week.