img 3133 - GBP/USD - Conservatives Hit, As MPs Jockey To Be New PM. {Order Flow EBS}
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GBP/USD – Conservatives Hit, As MPs Jockey To Be New PM. {Order Flow EBS}

  • +0.2% with EUR/GBP -0.2% – Brexit party won the EU elections nL8N2320Z5
  • Total votes show more voted remain than Brexit, but splintered nL8N2320GL
  • Conservatives to lean to the right to combat the Brexit party nL8N2320QM
  • Momentum studies conflict, 10 & 21 DMAs trend south – net bearish setup
  • 1.2638, 76.4% 2019 rise proving resilient, break targets the 1.2409 2019 low
  • Close above the tested, falling 1.2745 10 DMA would suggest consolidation
  • Asian 1.2720/1.2754 range is initial support/resistance

img 3133 - GBP/USD - Conservatives Hit, As MPs Jockey To Be New PM. {Order Flow EBS}

  • IMM spec USD longs rise in period ending May 21, GBP sellers lead way
  • GBP/USD sold hard amid heightened Brexit angst, spec sold 22,834 contracts
  • EUR specs sold 5,801 contracts now short 101,102 contracts
  • JPY shorts cover buy 6,388 contracts, net short falls to 55,192
  • AUD specs sold 2,0-65 contracts, net short now 66,111 amid low rate view