Theresa May’s Speech on Hard Brexit



The pound gapped down Monday morning 1/16/17 as markets expected Theresa May’s speech on 1/17/17.

Note XAUGBP also broke resistance.

I got in the 1/16/17 15:00 reversal at 1.20100+ but toook it way too early 1.20700+ and I was already happy as it played around 1.20400 to 1.20500. I was expecting another dip down below 1.20 but it never materialized.


13:00 Pound broke yesterday’s high and didn’t look back.
20:00 Biggest leg of the move. Broke through a previous high and hurt those who shorted up until 1.24.
22:00 I resisted the urge to short early and put in my short orders around 1.238 and 1.239 expecting the Daily to hit MA. It did. 



11:00 Adjusting exits to 1.2335 and 1.2316 expecting it to hit H1 24MA before rallying again.


  1. Watch the DXY.
  2. Look for the main drivers. It could be the dollar, commodities, gold, or some other favorite of the day.
  3. Events could make your month. Had I held on to my 1.20100 long, I would’ve made my month and then some.

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