Agenda For The New Bank of England Governor… Ease and Quickly

May Opens a Path to Unlock the Brexit Jam

Alternative Brexit Vote on Monday May Lift GBP

The Dollar IS the Story; Gold Confounds, A Brexit Rabbit Hole; EUR Punished

Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

Chart Partners objective is to discover medium-term cycle turns and profit opportunities before they unfold, within structural trends while preserving capital with clear degrees of risk. We have real return ideas. 

Markets are dynamic and trading systems must reflect this. It is crucial to determine underlying correlations and lead-lag relationships within global markets and the impact on linked instruments. Our weekly Chartonics product gives you short-term trading strategies that can be applied within the medium and longer term macro trends that are mapped out in our strategy updates. 

Our methodology fuses global market variables and isolates drivers in trends. We specialize in FX, index trade in NY and Asia with a focus on Asian stocks. 

Technical Analysis

<a href="https://www.smartkarma.com/entities/gbp" target="_blank" rel="noopener" data-smartkarma-citation="entities:22822:1">GBP (GBPUSD CURNCY)</a> is nudging up against natural chart resistance at 1.30-31. Sterling faces fallout as expectations are unwound after the weekend failure and uncertainty returns around an extension or October 31 departure. We run through resistance and support points within a pullback scenario.Much like the sharp move higher, we would expect a sharp decline to unwind the spike above 1.25 and will act as support. We touted a short zone near 1.2950-1.30.RSI is overbought will seek out pattern support near 45 where a reaction rise is expected. Any future break of RSI support would imply the trading range drops a notch lower.Brexit extension range is outlined with a lean toward a harder scenario that would press back on key supports. For the immediate future we expect to trade this range with the bias leading toward a harder Brexit resolution.

GBP (GBPUSD CURNCY) is nudging up against natural chart resistance at 1.30-31. Sterling faces fallout as expectations are unwound after the weekend failure and uncertainty returns around an extension or October 31 departure. We run through resistance and support points within a pullback scenario.Much like the sharp move higher, we would expect a sharp decline to unwind the spike above 1.25 and will act as support. We touted a short zone near 1.2950-1.30.RSI is overbought will seek out pattern support near 45 where a reaction rise is expected. Any future break of RSI support would imply the trading range drops a notch lower.Brexit extension range is outlined with a lean toward a harder scenario that would press back on key supports. For the immediate future we expect to trade this range with the bias leading toward a harder Brexit resolution.

Sterling Fallout Support Levels and Hard Scenario