April 16, 2019, 23:22: GBP/USD strategy [From Mr. Rikio Shima's newsletter]

From the investment newsletter "Shima Rikio's Practical Real-Time Trade" by Shima Rikio, provided by GogoJungle, here is a small excerpt from this morning's distribution. This time, please take a look at the trading strategy for the pound-dollar.

Following reports that Labour Party leader Corbyn said, “Discussions with the Conservative Party have hit a dead end” and that “agreements cannot be reached on the customs union, the environment, and workers’ rights,” the pound-dollar briefly tested around 1.3090 to 1.3050. Even if talks between Labour and the Conservatives stall, there will not be a no-deal Brexit by the end of October. In other words, there is no immediate reason to sell the pound. However, those who want to sell the pound are growing irritated that a consensus cannot be reached and are beginning to think a No-Deal Brexit is inevitable. Still, since it’s six months ahead, I’m not sure it’s worth pricing that in right now. If you break decisively below 1.3050, it looks toward 1.28.

From “Shima Rikio’s Practical Real-Time Trade” (Rikio Shima)quoted.

Many experts and commentators expect that the United Kingdom will not undergo a no-deal exit. It seems important to monitor future developments and to construct trading strategies accordingly. (Editorial staff)