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- GBP and TRY most attractive during the Asian session. How do we trade them?
GBP and TRY most attractive during the Asian session. How do we trade them?
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Loading...In summary after the weekend - strong support for GBP and TRY is expected. UK with a possible deal for Brexit, and Turkey released Pastor Branson.
GBP - According to rumors coming from the "Expired" note, Britain and the EU have reached an agreement on the so-called Soft Brexit. The deal is expected to ensure UK's safe exit from the union with a transitional period to prevent the economic turbulence we all expected to be in the absence of a deal.
How will this be? Strong growth for GBP as early as the opening of the markets at 00:00 hours and prolonged purchases during the Asian session. As for the most traded GBP-GBP, USD/USD-D1, I would like to activate the reversed H & S and test the resistance area around 200SMA. If rumors turn out to be credible, I expect investors to focus on purchases at the start of the Asian session and a slight sell-off at its end. During the European Stock Exchange session, I expect the cash flow to rise significantly and again in favor of the GBP against the major currencies. Great volatility will not be missed, so it's a good idea to lower Time Frame and look for short-term positions in pounds.
TRY - Pastor Branson's return to the United States will be seen as a will on the part of Turkey to avoid a bigger deal with the United States. This in turn will lead to a strong start of TRY at 00:00 and support in the medium term. As with GBP, the high volatility will be available, and it's good to focus on the smaller timeframe. However, transactions before 01:00 will be risky. It is good to wait for the initial euphoria to pass, as the TRY crosses are characterized by a heavily expanding spread. Short positioning at USD/TRY raises most likely scenarios.
Trader Petar Milanov Read more:
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