04.02.202009:48 Forex Analysis & Reviews: Boris Johnson's British "bubbles"

Good afternoon, dear traders! I present to you the analysis of the GBP / USD pair.

So, yesterday the pair passed a powerful takeover on D1. As the old trading omen says: "How many days have been swallowed? So much and there will be a movement towards absorption."

In my opinion, this was due to two factors. First, is the positive from the meeting of the Bank of England, which is the unchanged interest rate and the second, is the British technical exit from the EU on January 31 against the background of a locally weakening dollar on Friday. These two factors made the pair to almost 1.32. But in my reviews, I said that you should not cling to this movement, because in the economy not everything is as good as on the chart. And yesterday morning an article was published where Boris Johnson states that "Britain will not accept EU standards and rules." And this gave a signal to traders that the process could be complicated and delayed (everyone remembers this endless number of votes in parliament on each issue). I have already said that if in its time the USSR collapsed just as Britain exits the EU, the world would go crazy. 4 years for each of the 16 "fraternal" republics is equivalent to 64 years collapse of the USSR.

Jokes are jokes, and the pound is falling. And from a technical point of view, giant bubbles inflated on the market, which can be bargained only through a sheer drop:

At the same time, all buyers are now standing and trembling at the level of 1.29500 and 1.29000. The price of their stops is not worth a penny. Do not fall into this trap!

Success in trading and control risks.