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Big trading week for the GBP and EUR

November 13, 2018

Today, as I explain in the video below, is a very important day for the EURO and the GBP because politics return to the trading scenes. 

 

Regardless of what you are doing, make sure you take extra caution today and don't go in too big into your trades, rapid movements in both directions (up/down) are expected.

 

Here's something I didn't mention in the video: 

 

Yesterday some medias have reported that the UK Cabinet is close to reach a compromise on the UK's backstop proposal, but I need to warn you that being too optimistic here is a dangerous move.

 

First of all, we have been disappointed many times by the media and politicians... and politicians usually do not give in until they really feel the pressure and while the pressure is increasing, it may not be heavy enough just yet.

 

Second, Prime Minister May's supportive party DUP from Northern Ireland is very upset and has threatened to vote against the deal. 

 

Third, even if the UK Cabinet finds common ground, we still do not know whether the EU can accept it.

 

The EU has been very clear they still want a 'backstop to the backstop' if the UK wide backstop is only temporary in nature.

 

Ok, now lets move to the video.

 

 

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