The pound should range between $1.26 and $1.32 until there is clarity on the
outcome of the U.K. general election on Dec. 12, UBS analysts say in a note.
"The U.K. is facing what feels like the most unpredictable election in living
memory," the analysts say. "As things stand, public opinion points to [U.K.
Prime Minister] Boris Johnson's election gamble paying off, but as we learned in
2017, much can change as the campaign unfolds." In the meantime, UBS retains its
"bullish" medium- to long-term view on the GBP/USD as no-deal Brexit risk is
"out of focus for the time being." The GBP/USD falls 0.2% to 1.2912.
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
No comments:
Post a Comment