'Clearing houses in London manage credit risk, acting as a middle-man in swaps and derivatives trades to guarantee the contract in the event that one of the parties involved in the trade goes bust. The acceptance of English law and widespread use of English language has made London a hub for clearing globally, and it handles more than 70% of the daily euro clearing business, equivalent to around €930 billion (£792 billion, $995 billion) of trades per day, according to a House of Lords report'. This business could be lost to France or another Euro partner, decided by the central bank during Brexit. The votes at the House of commons went through yesterday without any hitches as expected.
ben08in posted: EURGBP price is kinda consolidating over the past 3 weeks in the range between support at 0.8460 and resistance at 0.8650. I would wait before placing the next trades to see some more definite trend.
85016 and 85500 daily range , the last low was higher suggestive of a possible up trend.
I am shorting EURGBP due to bearish Price Action. Low of Sep06, 2016 (.8333) is serving as support and high of July 06,2016 (which is .86261) serving as resistant. Hope TP will hit next week. I am using Daily chart from Hanseatic Broker, your broker could have different price
Important: you should follow your money management.
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