To day the Conservative party in the UK will appoint a new Prime Minister. It's clear that the political uncertainty in the UK continues to weigh on GBP, but it remain firm in our belive, that GBP saw a low with the test of 136.59 and more upside pressure towards 141.74 and ultimately a break above 148.87 should be expected.
That said we also want to stress that the political uncertainty should could push GBP a lot lower, so keep your stop as close as possible to protect for this unknown factor.
R3: 140.60
R2: 139.64
R1: 138.30
Pivot: 137.82
S1: 137.57
S2: 136.97
S3: 136.59
Trading recommendation:
WE are long GBP from 137.50 and we will move our stop higher to 136.90.
