ridethepig | GBP for the Yearly Close

📌 @ridethepig GBP FX Commentary for the Yearly Close

Here I will start by presenting the following two diagrams:

The safety of the Pound turns out to be rather deceptive with a Johnson cabinet which is becoming increasingly weak. And once more, surprise surprise the reason no-deal brexit is being blocked after Biden blockades is a sufficient explanation of the 'rescue' attempt from globalism.

So the truth seems to come from the following facts;

A lot of Brexit depended on the Trump protection. Without it Johnson is hanging and must scramble back to the EU for security. We can argue about the MT and LT impacts of Brexit but the ST includes a loss of initial market access which is unfavourable for GBP anyway. The flow is clearly balanced towards the downside, despite the dollar becoming quite weak and resistance looks overprotected.

We will dig deeper and more frequently into the macro implications again in master praxis to track the inner flows. I will aim to close quite a few more of the original technical maps before we dissect the whys and hows of its worth.

Thanks as usual for keeping the feedback coming 👍 or 👎

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