Pound quotes have been shaken by news and rumours about Brexit negotiations for a long time. Many of them are not confirmed. However, from the end of August on the EUR/GBP, we are seeing the strengthening of Pound. The main reason for this is the recent promising reports that some agreements will be reached. On the other hand, we have political reasons that weaken the Euro. Recently, it was a matter of the Italian budget. It is even speculated that the European Commission may want to reject the project.

I trade on this instrument at  broker XM, which has in its offer more than 300 other assets >>

There were elections in Bavaria over the weekend. The ruling CSU has lost the absolute majority it has had for several decades. As many as 10% received anti-immigrant AFD. This is another result that complicates the situation in Germany by weakening Chancellor Merkel. The chart, however, is undergoing an upward correction of sharp drops from previous weeks. It seems that the first target of the demand will be the level of the previous low or the area where the correction reaches the extent of the previous adjustment.

Leave us a comment!

Previous articleCADCHF – time to return to growth? -16/10/18
Next articleTrading Based On EMA144
Since 2010, he has been actively involved in the Forex market up to now. He is a supporter of Price Action and using as few indicators as possible. He believes that the simplicity of the system and consistency in its application is the best way to success in financial markets, and lack of patience is the most frequent cause of failure. Interested in classical systems based on Technical Analysis and in psychology - mechanisms that guide human behavior and conditioning decision making in trading.