Ready for any flash sales on GBPUSD post ADP non farm.
Yesterdays ideas on cable were accurate in the end with a strong bullish move coming through in the afternoon. Quite frankly we are expecting something similar today post ADP non farm.
Of course the market will react fast with high volume therefore we will watching our key TPO levels from the futures market to find out where institutions are likely to transact. EURUSD doesn't have as clean as a setup as cable therefore our focus will be there this afternoon.
Much will depend on USD data this week as to whether cable is ready to begin another run higher above 1.300 once again. With UK rates catching up to US, we are seeing the pair rally and quite rightly so.
We expect to see cable trade higher in 2023 and into 2024, and as its a magicians work to try and pick bottoms out the market, the preferred positioning is to buy cable for the foreseeable unless its an intraday counter trend position.
Trade Safe.
Of course the market will react fast with high volume therefore we will watching our key TPO levels from the futures market to find out where institutions are likely to transact. EURUSD doesn't have as clean as a setup as cable therefore our focus will be there this afternoon.
Much will depend on USD data this week as to whether cable is ready to begin another run higher above 1.300 once again. With UK rates catching up to US, we are seeing the pair rally and quite rightly so.
We expect to see cable trade higher in 2023 and into 2024, and as its a magicians work to try and pick bottoms out the market, the preferred positioning is to buy cable for the foreseeable unless its an intraday counter trend position.
Trade Safe.