Article 50 is coming on Wednesday

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Article 50 is coming on Wednesday

The following Trade Alert was sent out to all our clients on Monday March 27 2017.

When: Wednesday, March 29 2017

Where: London

Who: The British Prime Minister Theresa May will announce to Parliament that Article 50 has been triggered – beginning Britain’s two-year withdrawal from the EU.

What we recommend
Each time major news was expected or announced regarding the Brexit process, GBPUSD has shown unexpected strong trends and increased volatility. Since this is a singular event, we don’t know how the market will react as it is hard to gauge what has been priced in already. GBPUSD has been on a steep incline last couple of weeks and this might be continue to build towards Wednesday.

We recommend to skip a trading for a few days and sit this one out. Strong trends (as we witnessed today) could eventually pose a risk for Rocket. We will turn off all our Rocket EAs for tonight and will not trade until at least Wednesday. If the impact is severe, we might also refrain from trading Thursday and Friday.

Should you want to read more about the Brexit process, have a look at this page. It gives a very nice overview of how the process will go.
Remember that capital preservation should be your #1 priority. Trade wisely.

As always, should you have any questions, please send us an email atsupport@tulipfx.com.

 

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