Brexit

Market Review 07-05

Market Review 07-05

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UK’s Hunt: We need a compromise on all sides on Brexit

UK foreign secretary, Jeremy Hunt was out with some comments in the last hour saying that we need a compromise on all side on Brexit and that he doesn’t want customs union as long-term Brexit outcome.

Looking at the technical picture, last week’s bullish move failed just ahead of April swing highs and struggled to find acceptance above 23.6% Fibonacci retracement level of 1.2396-1.3381 up-move. Hence, it would be prudent to wait for a sustained move beyond mid-1.3100s, above which the pair might now aim towards reclaiming the 1.3200 round figure mark. A follow-through buying has the potential to continue lifting the pair further towards testing its next major resistance near the 1.3260-70 region en-route the 1.3300 round figure mark.

https://www.fxstreet.com/currencies/gbpusd

GBP/USD

Pivot- 1.3120

Long positions above 1.3085 with targets at 1.3175 & 1.3200 in extension

Number of Lots:
Required Margin:
Risk Management (200%):
Potential Profit / Loss @ 1.3175
1
€ 3,921.57
€ 7,843.14
€ 484.00
5
€ 19,607.84
€ 39,215.69
€ 2,420.00
10
€ 39,215.69
€ 78,431.37
€ 4,840.00
25
€ 98,039.22
€ 196,078.43
€ 12,100.00
50
€ 196,078.43
€ 392,156.86
€ 24,200.00

GBP/JPY – 200-day SMA regains the spotlight

Following its pullback from 50-day SMA, GBP/JPY is on the rounds near 145.15 during early Tuesday.

Given the quote manage to extend the latest U-turn, 145.70 can act as nearby resistance ahead of driving buyers to aim for 145.95 – 146.00 area including 50-day SMA

Pivot- 145.15

Long positions above 144.45 with targets at 146.00 & 146.50 in extension.

Number of Lots:
Required Margin:
Risk Management (200%):
Potential Profit / Loss @ 146.00
1
€ 3,875.97
€ 7,751.94
€ 582.59
3
€ 11,627.91
€ 23,255.81
€ 1,747.77
5
€ 19,379.84
€ 38,759.69
€ 2,912.95
10
€ 38,759.69
€ 77,519.38
€ 5,825.91
25
€ 96,899.22
€ 193,798.45
€ 14,564.77

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