The Twists and Turns of Brexit Keep Making Us Happy $$$ - Forex News by FX Leaders

The Twists and Turns of Brexit Keep Making Us Happy $$$

Posted Thursday, October 13, 2016 by
Skerdian Meta • 2 min read

It´s only been a few months and we have seen so many things change in the Brexit process since the referendum. At first, it was the leave vote which shocked the financial markets and even the British voters themselves. Many people who I personally know well and who voted to leave the EU were very surprised to hear the next day that the leave side had won.

I´m pretty sure many of them regret it now; one of my mates has already accepted it was a mistake. It´s like a desperate search for a moment of fame. 

Anyway, the GBP crash soon followed and the investor panic kicked in shortly after, if you remember the horrible UK economic data in early August. After that, the forex market was confused whether it would be a hard or a soft Brexit, or even if there will be a Brexit at all. 

But, the UK PM May started taking the hardline a few weeks ago, announcing that the Article 50 (which basically is the EU leaving form) a couple of weeks ago and saying that the UK parliament has no right to vote on the referendum.

That set a horrible mood among the GBP investors which turned into a terrible market sentiment towards the Pound. This caused the GBP to go through another crash last Friday morning when the liquidity was very thin.

A couple of days ago, May´s spokesperson commented that Brexit will go through parliament first. The GBP rallied for more than 200 pips, but then the politics slapped it down once more when the PM spokesperson again commented that only the negotiation terms will be discussed at the parliament.

Well, whatever twists and turns this story takes, we´re happy as long as the pips keep coming. Last week we made 75 pips selling the GBP/USD rallies and today we already had two winning forex signals on this forex pair. We´ll keep following the Brexit comments and keep monitoring the price action on GBP pairs for more sell opportunities, so follow our forex signals guys for more trade ideas.   

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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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