The pound rallied on Wednesday gaining 145 points to trade at 1.3492 as the FTSE recuperated most of its Brexit losses. New possibilities are emerging as Brexit leaders back off their project assures and are gradually losing control of the scenario as the reality that the UK cannot close its borders and change the economy overnight.
The significant reaction to the UK decision to leave the European Union has altered the technical condition in the forex market. While the speeding up aspect is a fundamental political advancement, it is moderated by psychology. Group psychology is the subject of technical analysis. In the present context, the technical analysis puts the cost action in the larger context and offers mile-markers, as it were, and potential inflection points.
Enda Homan is going to pull an all- nighter - and he can barely wait.The senior foreign-exchange trader at Allied Irish Banks in Dublin will be glued to his screens through dawn as British voters decide whether to remain in the European Union.It promises to be a record-setting evening, whether in regards to trading volatility or in gallons of coffee taken in.