It is actually rising now 😄 RSI and Momentum show similar signs for bullish movement, so I would not expect a fall below 1.04, not today at least. 1.0483 is the resistance I would watch for in short term.
News update, Theresa May is going for a hard Brexit , if this is the case it will be a good EUR/GBP trade on pullbacks, Trump on Friday, heaven knows what way the market will react, no real commitment on policies, I could guess it will be Dollar positive leading up to the event, stocks should get pumped up after we hear some commitment, Monday open might be an indicator of what's ahead , keep a close eye on data.
The only way I see Euro going to zero is if UK get everything they want,other countries will follow suit,until nothing is left,EU has to take a firm stance this time or it's finished,the immigration policy will be first and foremost.
mlawson71 posted: Previously there was a lot of talk of a soft BREXIT, what changed, I wonder.
That was the perception of the UK that they would get a soft exit, a hard exit would frighten voters, I think it was Merkel who first said they can't cheery pick what they want from a deal, parliament wanting to be involved made PM May's position look weaker, plus they believed they can still have market access without tariffs, Immigration is the sticking point and the EU will not move on this.
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