Good morning traders
Watch out for price breaking 1.31881 level. I'm expecting price to reach the 1.325 level by the end of the week. Price currently presents a good risk/reward.
Please use the projected risk/reward as a guide and consider risk management before the execution of any trade
Updates to follow
Fundamentals:- We are taking a short term Fundamental view on the GBP/USD -0.64% at the moment. The USD has gone from strength to strength for many months now; every so often it will produce a pull back and some profit taking. The short term data has been a little worse than expected and with the MPC -0.07% changing its interest rate vote recently we could see a...
Fundamentals:- As the alternative scenario from our original trade plan looks to be playing out we are now looking to trade the GBP/USD as a long position. The retail sales figures as expected where better than previous but no real shock to the market. This means that the GBP could still be adding value based on the rising wage forecast tomorrow.