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Christopher Lewis

The British pound has gone back and forth during the trading session on Monday, as we continue to move on the latest Brexit headlines. Quite frankly, this is a very noisy market that continues to suffer at the hands of the latest moronic blathering crossing the wires by politicians. This has been the way the market has been held hostage for four years now, and it looks as if as we are getting towards “crunch time”, they are not letting up on their games. At this point, I suspect we will continue to chop back and forth until we get some type of final resolution. I do not know that it is coming as quickly as one would hope, but we are certainly running out of time so that is probably the one positive you can take from the situation.

GBP/USD Video 01.12.20

To the downside, I see multiple places where buyers would probably jump back into the market, so I am not interested in shorting. I like buying short-term dips for short-term gains at this point. Ultimately, if and when we get a deal of the British pound should break above the 1.35 handle and go looking towards higher areas. As far as selling is concerned, the only way in which I start shorting as if for some reason there is a “no deal Brexit”, which is something that I think both sides are starting to show a reluctance towards. Yes, the games are still played but at the end of the day they continue to meet.

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