GBPUSD

GBPUSD
If you happen to be a Sterling bear, especially after the inconclusive Brexit conundrum we’ve been left with heading into 2019, I’ve been hammering home the point that 1.27+ continues to be a major area to engage in macro sales, for what appears to be a very juice downside target of 1.2135 based on a simple 100% projection away from the broken trading range. However, for the trade to keep up its downward trend, one should really expect the EUR/USD to hold the 1.15 topside, as the supply to push this trend lower, as the dynamics stand, should be more a function of Sterling weakness based on political events and in the anticipation of a hard-brexit. As one can clearly notice, it’s hard to be a seller in his pair if only predicated on the levels of the UK vs US yield spread.