The barrage of inconclusive Brexit headlines has been translated into a very choppy price action in the last 2 days, as algos and traders await for the next catalyst.
Sporadic episodes of vol here and there, as seen last week, are expected ahead of the major Brexit Summit on Thursday, when vol will continue to be on the rise.
Market structure, technicals and fundamentals continue to be all in alignment for a resumption of the bullish trend, as the table above indicates through the assignment of arrows.
It’s especially notable the bullish stepping formation in the UK-US bond yield spread, which has served as a key leading indicator. The micro/macro bearish trend in the DXY only reinforces that any GBP positive news can see a move magnified given the overall USD fragility.
Sporadic episodes of vol here and there, as seen last week, are expected ahead of the major Brexit Summit on Thursday, when vol will continue to be on the rise.
Market structure, technicals and fundamentals continue to be all in alignment for a resumption of the bullish trend, as the table above indicates through the assignment of arrows.
It’s especially notable the bullish stepping formation in the UK-US bond yield spread, which has served as a key leading indicator. The micro/macro bearish trend in the DXY only reinforces that any GBP positive news can see a move magnified given the overall USD fragility.
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