Better UK retail sales,BOE rate expectations has it retest the previous low,
But we’re still in my preferred range of a couple of days ago. The focus is put on May’s speech in Florence today: Will she convince the EU officials with 20B £ in her bag?
Is there a plan in regards to EU-British citizens to please the crowd or will it be wiped off the table? Next on are the German elections over the Weekend. It should be a no brainer for Angela Merkel’s victory, the question though in many people’s mind being: How high will the far right group AFD score and will it have an impact on a government composition? Angela acknowledged the threat and urged the voters to the urns to prevent to big an upwell! I repeat the levels EURGBP that I’m watching for action, which are exactly the same as a few days ago :There’s a congestion area under 0.88 and a similar one above 0.90 , within the 0.8735 (61.8%) and 0.9089 (23.6%) Fibo’s of the afore mentioned move higher.These boundaries broken will act as my stop and reverse. Inside I started to build up a small long, will add down to 0.8770 and will start to offload the position from 0.8950 and get short towards 0.9050. Happy hunting, there are opportunities waiting around every corner!