The Key To Trading The Great British Pound (GBP)
The trajectory undertaken by this particular currency is again of interest, similar to other USD pairs and the DXY overall.
Weighing less inside the index VS the EURO, we can still see a clear trend over time. Rebound/GBP strength (USD weakness on soft landing/fed ease) has been persistent up until very recently, where we have seen the BOE be more optimistic on lower rates post inflation data (CPI) being more encouraging, alongside a rampant FTSE.
Any further news sentiment out of the BOE is likely to be helpful in spelling its future direction, as similarly with the FED. If we see cause for USD strength further via hotter data out the US coupled with some more encouraging UK data, we may see further falls lower to key levels.
The opposite, or a mix would cause matched trajectories of price. I am looking to scale into longs as price falls now due to the significant fall already. Sizes are light as risk still remains on the sentiment side as explained above.
Would not be surprised if current falls continue as the long term trajectory mostly has favoured a sideways movement as most global economies seem confident (and are following the USA anyway).
Weighing less inside the index VS the EURO, we can still see a clear trend over time. Rebound/GBP strength (USD weakness on soft landing/fed ease) has been persistent up until very recently, where we have seen the BOE be more optimistic on lower rates post inflation data (CPI) being more encouraging, alongside a rampant FTSE.
Any further news sentiment out of the BOE is likely to be helpful in spelling its future direction, as similarly with the FED. If we see cause for USD strength further via hotter data out the US coupled with some more encouraging UK data, we may see further falls lower to key levels.
The opposite, or a mix would cause matched trajectories of price. I am looking to scale into longs as price falls now due to the significant fall already. Sizes are light as risk still remains on the sentiment side as explained above.
Would not be surprised if current falls continue as the long term trajectory mostly has favoured a sideways movement as most global economies seem confident (and are following the USA anyway).
Note
Touch on TL post BOE speakers. No real reaction, only light sizes if in long.Note
Key levels for longs approach.
Note
Note
Strength on GBP gaining. Further USD weakness required.
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Free Pro Multi Asset Trading Guide:
bit.ly/learnttm
Free Discord Secret Server:
discord.gg/tXAcxFVCJU
Posts Not financial advice.
bit.ly/learnttm
Free Discord Secret Server:
discord.gg/tXAcxFVCJU
Posts Not financial advice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.