GBP/USD and the FTSE in the current Brexit climate
Johnson's Brexit deal passes but timeline vote rejected, extension likely

The latest in GBP/USD:
It's been one volatile session after another for the pound's price with investors tuned in to see the latest Brexit updates, and yesterday was no exception to that rule with the net result from the House of Commons a yes vote on UK Prime Minister’s Brexit deal but a no on hurrying it through ahead of the month end Brexit deadline, and in the process raising the likelihood of a general election that would need the backing of parliament. In terms of extending the Brexit deadline past the current 31 October date would need a green light from the EU, and hence the ball is in their court in terms of announcements in that regard. While a reduced no-deal Brexit likelihood is positive for the pound, internal political uncertainties have yet to subside, and could keep the pound volatile in the process.
GBP/USD Technical analysis, overview, strategies, and levels
From a technical standpoint – and it certainly factors in less given bullish gains were on the back of fundamental political progress – all its main indicators are flashing green and with a trending Average Directional Index (ADX), but its conformist breakout strategies on any news that may be more ideal than reversal and fading strategies at risk of being stopped out.
Current Technical Overview | Volatile |
Technical Overview Conformist Strategies | Buy 1st Resistance Upon Breakout From Below, Sell 1st Support Upon Breakout From Above |
Technical Overview Contrarian Strategies | Sell 1st Resistance After Reversal, Buy 1st Support After Reversal |
S/L for 2nd Resistance | 1.3064 |
2nd Resistance | 1.3028 |
S/L for 1st Resistance | 1.2992 |
1st Resistance | 1.2956 |
Relative Starting Point | 1.2884 |
1st Support | 1.2812 |
S/L for 1st Support | 1.2776 |
2nd Support | 1.2740 |
S/L for 2nd Support | 1.2704 |
IG client and CoT sentiment for GBP/USD
In sentiment, retail bias is little changed from a slight majority long 53% and stands in significant contrast to the extreme short Commitment of Trader (CoT) bias of 79%.

GBP/USD Chart with retail and institutional sentiment

FTSE 100 Technical analysis, overview, strategies, and levels
From a technical standpoint for the FTSE 100, the daily outlook remains consolidatory despite recent gains that have failed to take its price above its 50-day moving average, and hence remains below all its main long-term moving averages for the time being. Nearly all its main indicators are neutral, but its Average Directional Index (ADX) is showing an ongoing propensity to trend, and where any risk-related Brexit news could cause greater movement, upon which a contrarian breakout strategy may be more ideal than a conformist reversal which applies in the absence of any fresh news.
Current Technical Overview | Consolidation |
Technical Overview Conformist Strategies | Sell 1st Resistance After Reversal, Buy 1st Support After Reversal |
Technical Overview Contrarian Strategies | Buy 1st Resistance Upon Breakout From Below, Sell 1st Support Upon Breakout From Above |
S/L for 2nd Resistance | 7353 |
2nd Resistance | 7325 |
S/L for 1st Resistance | 7297 |
1st Resistance | 7269 |
Relative Starting Point | 7212 |
1st Support | 7156 |
S/L for 1st Support | 7128 |
2nd Support | 7100 |
S/L for 2nd Support | 7072 |
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