Hey.
The chart above provides the perfect reasoning as to why purely looking at price action around market sensitive data points can be your undoing.
On Friday we had the NFP number - this was a big beat.
However, GBPUSD didn't really move to the downside all that much.
This likely led to many getting long, lulled into a false sense of security going into the...
A quick overview of my current position on GBPUSD.
Looking at GBP on the whole, I think there is the possibility for more upside and continued momentum.
(Here is the code for the basket I use GBPAUD*GBPCAD*GBPCHF*GBPJPY*GBPNZD*GBPUSD*GBPEUR)
GBPUSD still looks good to me but it looks like we are about to see a consolidation/correction in the very short...