This trade naturally stands the reason. It is the worst G10 currency prospects versus what's still the most stable("best") G10 out there. While Japan continues to maintain a healthy Account Surplus (for several decades by now) the UK decided to inflate the BoE's balance sheet to the tune of 120% of GDP, in just a few short months. This fact alone justifies a complete re-pricing of this cross, without the need to speculate on the impending doom of the UK, a debt-ridden, rapidly aging, outpost (and Not just because of Brexit - which is a day late and a dollar short!) that is currently dying in the pandemic (economically and in the literal sense) faster than any other country in the developed world. E.g. a total and rapid repricing of this pair is inevitable. (... and as we all know that, this pair can do that faster/better than any other pair in the majors!)
Here is the Monthly outlook
- And for those who wondered "what the 2nd best trade could be"...;
Not
Just a reminder where this is sitting at the moment
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Here is the 2nd best trade a little cleaned up;
İşlem aktif
SHORT
Not
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... and this is how/where one can Enter SHORT.... .... The Best long term (Short-and-hold) FX trade out there.
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This a good place to (re)Load!! - Massive SHORT!!
İşlem aktif
SHORT
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Notice the adjusted Stops.
İşlem elle kapatılmış
FLAT - for now; +5 pips
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Looks like ... ... they're going to Stop Hunt this, one more time.
İşlem aktif
Massive SHORT
İşlem aktif
SHORT
İşlem kapandı: durdurma seviyesi
FLAT; -25 pips
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We've changed our minds on this one! Don't like it as a short anymore due to an independent Sell Signal in the JPY. This changes our premier Short Trade to this one;
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.