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GBP/USD gapped lower after key Brexit vote over the weekend

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  • Nice call from @ddubrovskyFX on the #GBP gap: "British Pound Prices May Gap Lower After Brexit Deal Vote Delayed" - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2019/10/20/British-Pound-Prices-May-Gap-Lower-After-Brexit-Deal-Vote-Delayed.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr
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  • #GBPUSD gapping lower at the start of the session after sour #brexit developments over the weekend pressured Sterling lower.
  • With increasing volatility in weather patterns, how might storms, hurricanes, and floods rattle the supply chain for petroleum-based products and impact crude #oil prices? Find out from @ZabelinDimitri here: https://t.co/e91RRyBQ3z #OOTT https://t.co/QiS2RsWuGS
  • We got a daily close below rising support in #USDKRW. Could see an aggressive decline this week UNLESS market uncertainty from Brexit boosts demand for liquidity and pushes #USD higher and staves off a potential selloff. Will keep you all posted https://t.co/Jh2aiIOpgu
  • - Fed's Clarida: US economy is in a good place but there are "evident risks" - ECB policymakers do not expect additional easing in coming months - Aramco says the timing of its IPO is predicated on market conditions - Johnson tells Tusk he will ask for #brexit extension ⬇️ (BBG)
  • (Asia Pacific AM Briefing) British Pound Prices May Gap Lower After Brexit Deal Vote Delayed $GBPUSD #Brexit - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2019/10/20/British-Pound-Prices-May-Gap-Lower-After-Brexit-Deal-Vote-Delayed.html?CHID=9&QPID=917702
  • Crude oil prices may encounter significant selling pressure if China retaliates against the US and pushes back trade war talks. Get your crude #oil market update from @ZabelinDimitri here: https://t.co/vMwa6rmFpH #OOTT https://t.co/vPkJ3oQgwV
Webinar: Post-Election Market Action (US Dollar, S&P 500, Gold & More)

Webinar: Post-Election Market Action (US Dollar, S&P 500, Gold & More)

2016-11-09 12:22:00
Paul Robinson, Currency Strategist
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In today’s webinar, we took a look at price action following the ‘surprising’ victory by Donald Trump in yesterday’s US presidential election. The hours during and following the tallying of votes has been filled with extremely volatile price action across the spectrum.

It’s a market that needs to be treated with caution not only because of the high volatility, but given that many of the charts have been ‘wrecked’ in the short-term. Day-traders and those holding for maybe a day or two tops will find opportunity as markets continue to gyrate. But, for the swing-trader looking out over several days to weeks we want to see further developments on the charts before we make any commitments.

Can the spike lower and reversal in the US dollar (DXY) hold? It came close to channel support running back to May, so a retest and hold would be of bullish interest, and conversely EURUSD short off resistance in the mid-111s. The S&P 500 cash index is testing key support once again, if the market is to hold up it should find buyers soon. Looking at the precious metals complex; we made note of the spike and reverse in gold off the 2011 trend-line. Was that the capper, or can it regain footing for a move above in the days/weeks ahead?

For more, please see the video above…

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---Written by Paul Robinson, Market Analyst

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