TACTICAL FADE GBP RALLIES - UNEMPLOYMENT 4.7% VS 4.9%$ Unemployment was soaring lower at 4.7% vs 4.9%, but markets went for the NFP print instead though - taking it as dovish for the $ pushing it lower.
I think on the other hand this provides a great opp to sell the GBP or EUR topside Extremes at 1.451 and upwards as the fed considers unemployment as its target NOT NFP prints, i actually think this EMP report was HAWKISH given the place the economy is in. There is expected to be jobs growth drag as the economy reaches full capacity
im a seller of GBP down to 1.446 - as ive posted before i like selling GBP all day until the 23rd June #brexit. Also the fed uncertainty will almost certainly price GU lower than it is now by the 16th - hike or no hike imo.
