Hi traders,
We saw a GBP rally last week on news that Sajid Javid has stepped down as Chancellor of the Exchequer. This is an important post in government because it is responsible for collecting revenue and making payments on behalf of the government. Sajid stepping down leaves the potential for the successor.
130800 is the level we are watching for on the bullish plays, if we can get above this then it is very likely we will head to 131250.
Otherwise, we can view this run as a retracement where we should look to short on bearish price action at key levels.
All the best,
Aardall
We saw a GBP rally last week on news that Sajid Javid has stepped down as Chancellor of the Exchequer. This is an important post in government because it is responsible for collecting revenue and making payments on behalf of the government. Sajid stepping down leaves the potential for the successor.
130800 is the level we are watching for on the bullish plays, if we can get above this then it is very likely we will head to 131250.
Otherwise, we can view this run as a retracement where we should look to short on bearish price action at key levels.
All the best,
Aardall