This kind of price action will probably continue. The idea I think is as follows. Markets wants to sell. But it also knows retail is selling. Going lower straight means retail will benefit; and with the down targets way below in case of no deal ...

Cable Update (GBPUSD)

It's just an agreement re Ireland and law-breaking clauses in the legislation suggested by UK goverment. But it was a big stumbling block.

Cable Update (GBPUSD)

Always the same. GU lower => positive Brexit news. And in this case the news is in fact positive. And gives hope for a deal in the end.

Cable Update (GBPUSD)

We suddenly have a resistance at 1.336. It was not there before.

Cable Update (GBPUSD)

Not the bulls here of course. I mean, big boys may have closed their longs already. In this case, there is no incentive for them to return to 1.35.

Cable Update (GBPUSD)

Some indecision here. Johnson will probably go to Brussels tomorrow, bulls have a chance to attack today. Not sure they need it though, the upward targets were reached last Friday. And we are right in the middle of the range, it is better to wait ...

Cable Update (GBPUSD)

Looks like we are back into 1.329-1.34 range. Apparently, a week is not enough. Well, you know the drill.

Cable Update (GBPUSD)

Or, he is a very smart guy. Total egomaniac and liar, very unprofessional, but when it comes to political manoeuvring, a pleasure to contemplate. So he is doing what is best for him; maybe it will be a deal, maybe no deal, but he will find a way to ...

Cable Update (GBPUSD)

I am out for today. Tomorrow will be a new day, and new chances for me to go short and for Nessus to go long. GU now can do whatever (I think the developments today were actually positive), but what about other USD pairs? Is it just me or dollar ...

Cable Update (GBPUSD)

So if it does fall below, it would accelerate from there?

Cable Update (GBPUSD)

Can still go either way. Johnson does not want no deal it seems. May be forced to take it in the end, due to internal politics. But he could have done this already if no deal were his goal.

Cable Update (GBPUSD)

GU is killing stops up and down. Wonder which way it would go.

Cable Update (GBPUSD)

Has been a while since the king ruled over anything.

Cable Update (GBPUSD)

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Cable Update (GBPUSD)

Yeah, interesting. Did not imagine Johnson is able to have a long meaningful discussion.

Cable Update (GBPUSD)

As we discussed, I don't want no deal.

Cable Update (GBPUSD)

They finished the call some time ago. I don't like this radio silence.

Cable Update (GBPUSD)

Why? I sold at 1.341, took profit, now wait for a good price again. Maybe even will take the current one. No grave for me I think.

Cable Update (GBPUSD)

The higher the price, the more to fall. I actually take bullishness as a bad sign for a deal.

Cable Update (GBPUSD)

Is the price action bullish for the last few hours? Yes. Will there be a deal today? No chance. Just trust someone who knows a bit about politics.

Cable Update (GBPUSD)