Forex Trading Brexit: Pound Versus The Dollar?
Forex Trading The Pound the Dollar, Your Currency and Brexit?
If you are involved in Forex trading, especially pound/vs Dollar, no doubt you will be watching the pound very closely and how it is going to be affected in the upcoming Brexit polls. If you are smart you will do as much reading up as possible at how the rate is going to be affected by this issue and trading pound dollar can net you a tidy profit if you time it just right. matter of fact you can cover both and win both ways up and down.
Pound Versus the Dollar Forex Trading
Economists reckon there could be a sharp decline in the value of the Pound versus the Dollar, if the overall results result in a ‘YES’ to leave the EU. The upcoming date for the election is on the 23 June 2016 so take as much time reading up articles in financial markets and what traders, economists and politicians are all saying. Even a ‘NO’ vote will have the currency fluctuating both up and down before it stabilizes in the aftermath and debating that follows….
Here are a few good financial markets articles in top publications from economists and financial newspapers , that will help you make a few decisions on how to set your trades in the near future.
Express News Finance Pound Value Forecast?
Telegraph Business News Market Jitters
Exchange Rate Forecasts Sterling
If you have read past articles about forex trading on this website you will see how I have mentioned how politics, market economies, and disasters all affect how currencies react in the financial markets.
Sure forex trading can be exciting and a roller-coaster ride and that is why huge profits can be made, and lost if you are not careful. Although some mention the pound could plunge and lose as much as 20% in value; still be a little conservative in setting your trades. If you are trading binary options, I reckon on the day before and on the day of the elections the pound could take a knock due to uncertainties, until the final results come out.
No matter what currencies you are trading against the pound, be all eyes and ears, in the run up to the polls, during the polls, and a few days afterwards as well. Listen to the trading professionals check the trading forums, and read your favorite financial articles on Brexit carefully over the next few days, and you can be on the smart money.
It can be one of the most sure things in forex trading that can allow people make some smart trades and tidy profits. Stay informed….