21 October 2019, GBP/USD
GBPUSD trading plan:
We are expecting technical correction in this currency pair. Members of the government left the House of Commons following the result of the vote as they no longer intend to participate in the vote on Boris Johnson's BREXIT deal. The Letwin amendment passed with 322 votes in favor and 306 against, giving the amendment a majority of 16. The amendment withholds approval of Johnson's deal until the legislation to enact it is passed. The new week will be "hot" in the foreign exchange market. Boris Johnson will not ask for an extension - he will tell EU leaders there should be no delays, they should reject Parliament's letter asking for a delay, and we should get BREXIT done on 31 October.
Trading recommendation: Sell 1.2930 and take profit 1.2890.
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