What sent the GBP surging 150 pips higher? - Forex News by FX Leaders

What sent the GBP surging 150 pips higher?

Posted Monday, July 11, 2016 by
Skerdian Meta • 1 min read

We opened a sell forex signal in GBP/USD a couple of hours ago hoping that the price would reverse and continue the downtrend after the retrace on the 15 minute forex chart. But, two hours later we see that this pair has all GBP pairs have shot up more than 150 pips. What happened?

Well, another Brexit campaigner pulled out of the contest for the prime minister of the UK. Andrea Leadsom announced that she would withdraw her candidacy and she was a strong Brexit campaigner. Now all the Brexit campaigners have left the prime minister candidacy train and all that´s left is the Tory candidate Theresa May. So will Brexit happen after all? May is not a Brexiter so maybe the UK has changed mind after all.

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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