EU chief Barnier settled markets with a 6-8 week window for a Brexit settlement. The Euros reaction was to selloff as panic in the Pound receded. Now a channel has formed, and there is a possibility for a reversal pattern which will keep the short-term rally moving higher. Any harmful noise from the conservatives in the UK may have a bearish impact on the Pound.
If the Barnier Brexit story maintains forefront on the market's mind, the selloff may continue into the longer-term trendline.
If the Barnier Brexit story maintains forefront on the market's mind, the selloff may continue into the longer-term trendline.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.