Brexit fundamentals played a huge part of our trading today with two specific articles. Firstly a news item portraying difficulties in trade negotiations between the UK and EU saw the pound drop of a cliff. This affected the whole of the UK morning session and our technical Doms until just after 12pm. Shortly after, a second article appeared mentioning a compromise and the pound shot up again, reversing earlier losses. This was on the back of an initially strong GBP Index.
The initial article put a spanner in our Dom long GBP/JPY and GBP/USD pairs but not before some decent early points at our usual times. However our Dom short GBP/AUD did exceptionally well.
The euro started the day weak so there was little disruption in the Dom short EUR/AUD but the the Dom long Dax suffered from the Brexit news and also negative German data. Good points were still available.
Despite all this, Thursday saw another decent maximum potential of 700 points from specific Max Day Trading time/price level entries within our five instruments from the UK morning session alone, with a minimum target of just 30.
A 10% target of this figure would have yielded 70 net points from specific Max Day Trading time/price level entries, with many additional opportunities in the US morning (UK afternoon) and US afternoon (UK evening) sessions.
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