My Trade today - A Plus trade
Entry
M30 OB rejected
Low taken and retest on FVG
FVG
Asian low taken out now it's aiming for Asian High.
The Pound to Dollar exchange rate can remain under pressure into a potential UK interest rate cut and Friday's U.S. jobs report.
This week's Bank of England decision will be the key focus for the Pound, and the market is currently split 50/50 on whether the Bank will proceed with a rate cut.
Elevated uncertainty means the market will be sensitive to the outcome, and we could, therefore, see some elevated volatility this week.
Our overall Week Ahead Forecast stance is to expect near-term softness as traders position for this possible volatility. This caution could reflect a weaker Pound-Dollar and a retreat towards 1.28 cannot be ruled out in the near term
M30 OB rejected
Low taken and retest on FVG
FVG
Asian low taken out now it's aiming for Asian High.
The Pound to Dollar exchange rate can remain under pressure into a potential UK interest rate cut and Friday's U.S. jobs report.
This week's Bank of England decision will be the key focus for the Pound, and the market is currently split 50/50 on whether the Bank will proceed with a rate cut.
Elevated uncertainty means the market will be sensitive to the outcome, and we could, therefore, see some elevated volatility this week.
Our overall Week Ahead Forecast stance is to expect near-term softness as traders position for this possible volatility. This caution could reflect a weaker Pound-Dollar and a retreat towards 1.28 cannot be ruled out in the near term
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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.