No rest for GBP amid Brexit uncertainties

Closed
Tool: GBPAUD
Position: Buy
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GBP is under pressure. The market players have been actively fixing and keep on fixing their profits on the verge of a two-day EU summit during which the issues with concern to Brexit will be discussed. The uncertainty surrounding Brexit and negative comments of the Irish prime-minister, who emphasized that no distinct progress in negotiations with respect to the Irish border has been made yet — all these factors affect the GBP’s moves.

Let’s take a look at the technical analysis for GBP/AUD.

GBPAUDH1-5

The selling structure has been formed. I recommend to search for opening opportunities for short postions in the entrypoint under the support treadline at 1.7788.

Take-profit is set at 1.7693.

Profit target is around 95 points.

Stop-loss is set at 1.7888.

It is worth to remind that we open orders only when the price reaches its target point and manages to fix under the support treadline of the selling structure.

Result

95 pips

950 dollars

Funds deposit and withdrawal

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  • Tuesday, December 15, 2015
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