Daily Alert – Wednesday 18th November 2020: GBP boosted by trade talks news flow

Mark NugentDaily Alert, Nov 2020

Daily Alert – Wednesday 18th November 2020: GBP boosted by trade talks news flow

The week so far has seen changeable risk sentiment.

Monday was risk-on, tempting me into my favourite sentiment-driven FX trade: AUDJPY long. Sadly, Tuesday saw a reversal into risk-off sentiment, the JPY rose and the trade hit my stop for a loss of 1%.

By the close on Tuesday, the positive news flow on Brexit talks was boosting the GBP and I went long GBPUSD on Tuesday night. So far, the trade is around 1x risk in the money, stop at breakeven and no capital at risk.

Sentiment today has been indecisive, so I am unlikely to place a third trade this evening unless that changes.

I’ll be back on Friday with a weekly review and a brief video of all closed trades.

You can watch the video in the VIP Club members area HERE