Germany: Govt position unchanged on Brexit...
Fast break the other way.....
The GBPUSD now cracked lower on yet another headline. This one saying Germany position on Brexit is unchanged.
The GBPUSD cracked back lower and has moved to the earlier day(s) highs at 1.28705. The price is back below the 100 and 200 hour MAs. Risk now? They come in at 1.29078-1.29138.
UGH.
Event risk from headlines can be brutal. They come at any time. They can be ambiguous (or misleading). In a market that is anxious, that can really make trading more lucky than skillful.
Nevertheless, the technical levels do tend to show a way. The high stalled near a swing area. The low on this move stalled at the prior swing highs from yesterday/today. The 100 and 200 hour MA did provide support on the move higher, and so far on the break back below.
You have to have a bit of luck though in predicting what may come next and understand that the headlines - in this environment - can come at any time (and from many sources too).
