Tuesday, January 17, 2017

GBP/USD prior to UK PM's big speech on BREXIT

Candle Profile showing buying/selling ahead of UK Prime Minister Theresa May's long awaited speech on BREXIT.

This view of the Candle Profile indicator uses the "real volume" (buying/selling volume) from FXCM to generate the profile (green = buying, red = selling, yellow = delta). You can see the selling in these last few candles, but price still went up. This is the big boys pushing the price higher to close the gap.

I expect it to go both directions during the news event (Theresa May will be speaking at 11.45am UK time).

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