Trading Plan – Mon 14 Oct: Is this the most important week in Brexit for the GBP? Probably.

Mark Nugent Oct 2019, Trading Plan

Trading Plan – Mon 14 Oct: Is this the most important week in Brexit for the GBP? Probably.

Last Week

The almost hysterical contradictory news flows on US-China trade and Brexit crystallised on Thursday into positive sentiment. By the end of the week a Phase 1 agreement had been reached in the trade talks and Brexit had entered “the tunnel” where intensive negotiations take place (and no briefing or leaking – yeah right).

Equities rose significantly on Thursday and Friday, rescuing the week.

On currencies, the safe havens (USD and JPY) fell and the GBP soared. This is all as you would expect based on the sentiment.

WTI rose and GOLD fell on the positive sentiment, again, just as you would expect.

This Week

At the start of this week the most important issues are twofold: 1. How will the fallout from the US-China Phase 1 deal affect sentiment? and 2. How will the Brexit negotiations develop?

I discuss it all in the video.

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Here is your video:

You can download the video HERE.

The updated Trading Plan is HERE.

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