October 7, 2016
More Story on British Pound Flash Crash
To understand more on why the British Pound experienced a flash crash today, October 7, 2016 Friday. Read story by Investopedia “Why the British Pound Experienced a Flash Crash Today“.
Two Parties – The Trigger?
There were two parties, 1) British Prime Minister Theresa May party conference in Birmingham, England told that she will trigger Article 50 and start the “divorce process” (Brexit) by March 2017. 2) A dinner speech by EU Commission President, French President Francois Hollande that the EU would have to be very firm with the UK in order to protect the fundamental principles of the single market economy.
Can these be the trigger to the pound crash? Will see.
How Much British Pound Worth
British pound down nearly 5% this week. It has been down for about 20% so far.
Read the story on Here’s How Much Less the British Pound Is Worth Today After Last Night’s Flash Crash by Time Inc.
Picture Worth a Thousand Words
1) EURGBP Hourly Chart
October 7, 2016 EURGBP Hourly Chart
2) GBPUSD Hourly Chart
October 7, 2016 GBPUSD Hourly Chart
3) GBPSGD Hourly Chart
October 7, 2016 GBPSGD Hourly Chart
4) GBPJPY Hourly Chart
October 7, 2016 GBPJPY Hourly Chart
5) GBPAUD Hourly Chart
October 7, 2016 GBPAUD Hourly
6) GBPCAD Hourly Chart
October 7, 2016 GBPCAD Hourly
7) GBPCHF Hourly Chart
October 7, 2016 GBPCHF Hourly Chart
Have fun!
Moses Forex Desk
AmiBrokerAcademy.com