Long Pound for short term retracement against Dollar
Following Trump’s warning to May on Brexit proposal could “kill” future U.S trade deal have set further bearish tone on Pound.
Given U.K’s current situation losing U.S as trade partners is not something they can accept lightly.
In any event of May losing her seat will throw U.K government to a temporary shutdown before another round of election kicks in.
Current trade is counter-trend and short term only as multiple factors are strongly against May, I remain bearish on Pound till we hear more from how May intend to handle the situation.
Given U.K’s current situation losing U.S as trade partners is not something they can accept lightly.
In any event of May losing her seat will throw U.K government to a temporary shutdown before another round of election kicks in.
Current trade is counter-trend and short term only as multiple factors are strongly against May, I remain bearish on Pound till we hear more from how May intend to handle the situation.