Brexit In Focus - The FTSE 100 And GBPUSD | Summary and Q&A

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March 12, 2019
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InvestingChannel
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Brexit In Focus - The FTSE 100 And GBPUSD

TL;DR

The UK's FTSE 100 index is stagnant while the Great British pound is undervalued against the US dollar due to uncertainties surrounding Brexit.

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Key Insights

  • 🫰 The FTSE 100 index is struggling to break above the 7200 level, indicating resistance from sellers.
  • 🫰 The Shanghai index has outperformed both European and US markets, reflecting a value trade opportunity.
  • 🙃 The cable currency pair (GBP/USD) is undervalued due to the Brexit situation, and a positive outcome on the vote could lead to potential upside.
  • 🍉 The longer-term moving averages for the cable currency pair are not generating a classic golden buy signal yet.
  • 👋 The high wave doji candlestick pattern suggests indecision between Bulls and Bears in the cable currency pair, but Elliott wave analysis indicates a potential for upside if the Brexit vote has a favorable outcome.
  • 🚠 Cable is currently considered cheap compared to historical levels, making it an attractive option for traders.
  • 🫰 The outcome of the Brexit vote will have a significant impact on both the FTSE 100 index and the cable currency pair.

Transcript

let's turn our attention to Europe let's cover the footsie 100 index the basic kneading indicator of the UK market captures and then let's move on to the cable currency pair the Great British pound against the US dollar your first instance the footsie 100 obviously the headlines are Teresa may is making a final bid to save her brexit deal ahead of ... Read More

Questions & Answers

Q: What is the current situation regarding the Brexit deal vote?

UK Prime Minister Theresa May is making a final attempt to save her Brexit deal, urging MPs to back it or risk a no-deal Brexit. The outcome of the vote is uncertain, causing market volatility.

Q: How is the FTSE 100 index performing?

The FTSE 100 index is struggling to break above the 7200 level, with sellers creating resistance. If it manages to surpass this level, it could generate a significant buy signal and experience upside momentum.

Q: What is the significance of the 700 area for the FTSE 100?

The 700 area is crucial for the Bulls to break through, as it would indicate a buy signal and potentially generate further upside momentum. The FTSE 100 has been relatively flat throughout the year, so breaking this level is important for value traders.

Q: How is the cable currency pair affected by Brexit?

The cable currency pair (GBP/USD) is considered a proxy for the Brexit situation. It is currently undervalued, and a positive outcome of the Brexit vote could lead to a potential 5% increase. However, the vote's uncertainty has made the market cautious.

Summary & Key Takeaways

  • UK Prime Minister Theresa May is making a final plea to save her Brexit deal before a crucial vote, causing uncertainty in the market.

  • The FTSE 100 index is struggling to break above the 7200 level, indicating resistance from sellers. A breakthrough could lead to significant upside momentum.

  • The cable currency pair (GBP/USD) is undervalued due to the Brexit situation, and a positive outcome on the vote could result in a potential 5% increase.

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