A full house for the pound

Only one currency in focus in the London forex session and that was the British pound as politics continues to dominate. It was all heavy selling in the session with a full house on the currency matrix, revealing sentiment was universal across the market and in all the pairs. The markets, of course, wants a soft Brexit so any hint helps to move the pound higher, before the ‘reaction of reality’ sets in, and it falls once more. Some great trends in this session and revealing the power of the currency matrix in combination with the currency strength indicator to highlight the best pairs to trade, with the currency array confirming the strength of the trend and also opportunities for those pairs approaching overbought or oversold states.

By Anna Coulling

Charts from NinjaTrader and indicators from Quantum Trading