A new and more virulent strain of the coronavirus which causes Covid-19 has been linked to a surge in cases in the London area. To address the issue the UK government reversed their previous position and imposed an immediate lockdown in the middle of the peak Christmas travel season, states Ian Murphy of MurphyTrading.com.
In response, a growing list of countries have banned travel from the UK. Meanwhile, the deadline for a Brexit agreement to avoid UK/EU trade defaulting to WTO terms in eleven days came and went, but negotiators are still talking—one wonders about what?
The popular Vanguard ETF which tracks the FTSE250 [VMID.L] was off 3.7% in early trade but has since recovered about 1%. The pound is also under pressure against the dollar and pierced the quarterly trailing stop and -1ATR channel on a daily chart in this morning’s session.
The risk-off mood swept across the Atlantic and it’s possible trigger 120 in the US Help-Up strategy may be stopped out today as pre-market trading was hovering around the quarterly trailing stop at 07:20 ET.
Learn more about Ian Murphy at MurphyTrading.com.
