3 Losses in a Row!
May suffered three, yes, three telling losses yesterday.
- The Government was found to be in contempt for failing to release the full legal advice on the Brexit agreement.
- The House of Commons now has the power to amend any plan May comes up with (to leave the EU). In effect, the two motions reduce the probability of the UK leaving the EU without a deal.
But, the most important loss, was the European Court of Justice ruling:
in effect, that the UK can withdraw from the EU without the approval of the EU.
The ruling reduces the force of May’s argument that for Brexit, it’s her deal or no deal. The three loses makes the approval of May’s Brexit deal as close to a certainty of defeat as is possible in our game.
The impact of the losses?
See the 60-min bar marked by the arrow. The price action was to be expected – too early in the peace. On Jan 10, I’ll be looking to sell a rally or breakdown below 1.2657.
The post 3 Losses in a Row! appeared first on Ray Barros’ Blog for Trading Success.
Source: http://www.tradingsuccess.com/blog/3-losses-in-a-row-6462.html
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