Where next for Sterling?

Where next for Sterling? By Samuel Rae On June 23, the UK voted to leave the EU. After years of campaigning and debates that transcended party politics, the UK is setting out alone. What this means for all involved remains to be seen. There are a few short-term implications, however, that we can bring in to play from an operational trading perspective. Those that have followed the Forensic Forex column here at Master Investor during the last few months will be well aware of how I use a combination of underlying fundamentals and naked price action to go at the markets. For those that aren't, however, here's a quick introduction. Essentially, I identify key levels on the daily charts in the major pairs – primarily the Aussie, cable and EUR/USD, but sometimes the USD/JPY and the GBP/JPY. As price approaches these levels, I look for a confirmatory signal (generally the closing of a candlestick above or below the levels in question, or even better, a pin bar in line with my directional bias. When these signals arrive, I enter towards a predetermined target (also dictated by key levels) and set my risk accordingly. I don't touch a trade once it has opened; I just let it play out to either a stop loss or a target hit... Click Here To Read The Full Story The Master Investor Market Report The FTSE 100 closed the day at 6,360.06, an increase of 219.67 points. The FTSE 250 rose 499.84 points to finish at 16,002.90. The FTSE All Share climbed 104.04 points to finish at 3,430.32. The FTSE AIM All Share finished at 697.86, up by 9.03 points. Consumer transit operator Stagecoach (SGC) saw revenues for the year ended 30th April grow from £3.2 billion to £3.87 billion despite the business dealing with more challenging conditions in certain markets. Earnings from UK buses continues to be sluggish and revenue growth in UK rail is likely to slow down in the future, leading to a renewed focus on cost control. The company also confirmed the sale of its mainland European Megabus operations. Stagecoach shares climbed 8.20p to 226.50p. Download our June issue today! Click HERE to read. Electronic retailer Dixons Carphone (DC.) reported a 17% rise in headline profit before tax to £447 million for the year ended 30th April. Group revenues climbed 3% to £9.7 billion as the merger between Dixons and Carphone Warehouse is largely complete and management are now looking to the next 12 months with new e-commerce schemes and new facilities in the US and Sweden. Dixons Carphone shares dropped by 6p to 335.40p. Alternative sweetener specialist PureCircle (PURE) saw its shares climb by 11.11% to 300p after the US authorities released the company's Stevia imports for sale after they were detained at the start of June. PureCircle said that it would work with the Customs and Border Protection department to fully resolve matters and reiterated that it was fully commited to and compliant with human rights around the world. Tomorrow's news today Tullow Oil (TLW) and Serco (SRP) will publish their final results. Quote of the day "For heaven's sake man, go!" -David Cameron (to Jeremy Corbyn) Latest Stories Chart of the Day: Cairn Energy By Zak Mir To coin a term I picked up before the EU Referendum, I am suffering from a degree of Brexhaustion, and therefore it seems wise not to pour oil on troubled waters. Rather, I'll take a look at the oil & gas sector and a possible opportunity there… Click Here To Read The Full Story All Aboard the Brexit Big Dipper! By Victor Hill At 04:39 on Friday, 24 June David Dimbleby announced that the BBC forecast was that REMAIN could not now win. Cut to a beaming Nigel Farage at a party somewhere talking about the British people getting their country back… Click Here To Read The Full Story Chart of the Day: FTSE 100 By Zak Mir The FTSE 100 is back in the black, and doing so in style. Cynics such as myself would put this down to the penny dropping there will either be no Brexit, or that it simply won't happen for a long time… Click Here To Read The Full Story Mellon on the Markets By Jim Mellon Brexhausted! I'm now back in Spain after being in the UK on the day of and the morning after the referendum.  Wow – what a result! I went to the area just outside Parliament where the TV and radio stations had set up and had been broadcasting all night till the morning of June 24th... Click Here To Read The Full Story Chart of the Day: Pound vs Euro By Zak Mir The Project Fear strategy may have been the reason that Remain failed, but so far it was spot on as far as Sterling collapsing is concerned. That said, the "Pound in our Pocket" tanking will only have positive effects on the economy and may even prevent a recession… Click Here To Read The Full Story Join the movement on social media: Copyright 2016 Master Investor Ltd, All rights reserved. You are receiving this email because you opted in at our website. If a Daily Bulletin is too frequent, why not opt in to our once weekly mailing list for a round up of the week's news straight to your inbox. Once Weekly Round-Up Our mailing address is: Suite 88, 22 Notting Hill Gate, London W11 3JE Master Investor is a trading name of Master Investor Limited. Material contained within Master Investor Magazine and its website is for general information purposes only and is not intended to be relied upon by individual readers in making (or refraining from making) any specific investment decisions. Master Investor Ltd does not accept any liability for any losses suffered by any user as a result of any such decision.

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