No data? No problem! Pound traders have been watching pre-election polls pretty closely lately to gauge how the actual results might turn out for Brexit.
- Opinion polls consistently show that Conservatives lead over Labour
- Whether or not Tories are likely to secure majority is the question
- Stronger odds of a majority suggest that a “no deal” exit could be avoided
- PM Johnson previously stated that Conservative candidates will back his Brexit plan
- Long-term moving averages reveal that all pound pairs are still bullish territory
- However, Williams %R is indicating that GBP/NZD is the only pair that’s oversold at the moment while GBP/CHF is approaching overbought territory
Missed last week’s price action? Check out the GBP Weekly Review for Nov. 18 – 22!