{"id":47035,"date":"2019-10-18T03:21:32","date_gmt":"2019-10-18T07:21:32","guid":{"rendered":"https:\/\/currencylive.com\/?p=47035"},"modified":"2019-10-18T05:08:50","modified_gmt":"2019-10-18T09:08:50","slug":"101264-gbp-sek-liquidation-ahead-of-key-uk-parliament-vote","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101264-gbp-sek-liquidation-ahead-of-key-uk-parliament-vote\/","title":{"rendered":"GBP\/SEK: Liquidation Ahead of Key UK Parliament Vote"},"content":{"rendered":"<p>The Swedish Krona managed to hold the ground against the Pound despite a vigorous rally that propelled Sterling to a five-month high. Now, we\u2019re starting to see the GBP\/SEK strength fading ahead of a complicated weekend. We should see some liquidation before the weekend as investors might try to avert being caught in a rough trade scenario where the GBP\/SEK exchange rate gaps on Sunday when the Wellington session kicks in.<\/p>\n<p>On Saturday, the UK parliament plans to hold a vote on the Brexit deal that the UK Prime Minister Boris Johnson has secured in Brussels. This spells more risk for the British Pound crosses and for the over the weekend open trades. So, it makes sense to see investors trying to balance their portfolio ahead of this crucial vote.<\/p>\n<p>If the Brexit deal fails to gain support among the UK parliament members, the UK Prime Minister will be required to ask for an extension of the Brexit negotiations. This means more uncertainty. So, if this uncertainty materialize, the risk sentiment will generate more volatility and possible to see a shift in the GBP\/SEK trend direction.<\/p>\n<p>It\u2019s not going to be easy to reverse the GBP\/SEK bullish trend. But the Brexit theme has the potential to be the catalyst for the sentiment to turn in Swedish Krona\u2019s favor. These macro themes are long-lasting forces that can disrupt the currency trends and generate extreme levels of volatility.<\/p>\n<h2>GBP\/SEK Technical Pattern<\/h2>\n<p>The GBP\/SEK traded lower on Thursday but closed the previous trading day indecisive at 12.4913. The daily trading ranges are beginning to get tighter. This means that the GBP\/SEK exchange rate is vulnerable of an imminent breakout. Small trading ranges are always followed by big trading ranges.<\/p>\n<p>The key technical levels traders need to keep an eye on are the previous swing high 12.6068 established in early May. Key support level can be found at the weekly opening price 12.3826.<\/p>\n<table>\n<tbody>\n<tr>\n<td><strong>What do these figures mean?<\/strong><\/td>\n<\/tr>\n<tr>\n<td>When measuring the value of a pair of currencies, one set equals 1 unit and the other shows the current equivalent. As the market moves, the amount will vary from minute to minute.<\/p>\n<p>For example, it could be written:<\/p>\n<p><em>1 SEK = <span class=\"DFlfde SwHCTb\" data-precision=\"3\" data-value=\"0.080035\">0.080<\/span> GBP<\/em><\/p>\n<p>Here, 1 SEK is equivalent to approximately 0.080 GBP. This specifically measures the Swedish Krona worth against the British Pound. If the Pound amount increases in this pairing, it\u2019s positive for the Krona.<\/p>\n<p>Or, if you were looking at it the other way around:<\/p>\n<p><em>1 GBP = 12.50 SEK<\/em><\/p>\n<p>In this example, <span style=\"font-family: inherit; font-size: inherit;\">1 GBP is equivalent to approximately 12.50 SEK. This measures the Pound&#8217;s worth versus the Swedish Krona. If the Krona number gets larger, it\u2019s good news for the Pound.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<h6><em>This publication is provided as general information only and is not intended as an exhaustive treatment of its subject. TransferWise Inc. and its affiliates (&#8220;we&#8221; or &#8220;us&#8221;) expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of this publication, and you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax, investment or other professional advice from us.\u00a0 We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>The Swedish Krona managed to hold the ground against the Pound despite a vigorous rally that propelled Sterling to a five-month high. Now, we\u2019re starting to see the GBP\/SEK strength fading ahead of a complicated weekend. We should see some liquidation before the weekend as investors might try to avert being caught in a rough [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":47040,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379],"tags":[1386,1466,1394,1646,1647,1660],"class_list":{"0":"post-47035","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"tag-brexit","9":"tag-brussels","10":"tag-gbp","11":"tag-sek","12":"tag-swedish-krona","13":"tag-wellington-session"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/SEK: Liquidation Ahead of Key UK Parliament Vote - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/101264-gbp-sek-liquidation-ahead-of-key-uk-parliament-vote\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101264-gbp-sek-liquidation-ahead-of-key-uk-parliament-vote\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101264-gbp-sek-liquidation-ahead-of-key-uk-parliament-vote\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/SEK: Liquidation Ahead of Key UK Parliament Vote\",\"datePublished\":\"2019-10-18T07:21:32+00:00\",\"dateModified\":\"2019-10-18T09:08:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101264-gbp-sek-liquidation-ahead-of-key-uk-parliament-vote\\\/\"},\"wordCount\":589,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101264-gbp-sek-liquidation-ahead-of-key-uk-parliament-vote\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/GBP-SEK-Liquidation-Ahead-Key-UK-Parliament-Vote.jpg\",\"keywords\":[\"Brexit\",\"brussels\",\"gbp\",\"sek\",\"swedish krona\",\"Wellington session\"],\"articleSection\":[\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101264-gbp-sek-liquidation-ahead-of-key-uk-parliament-vote\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101264-gbp-sek-liquidation-ahead-of-key-uk-parliament-vote\\\/\",\"name\":\"GBP\\\/SEK: Liquidation Ahead of Key UK Parliament Vote - 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