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Gbpusdidea

GBPUSD Analysis Long Buy at Swing TradeGBPUSDLong Buy at Market swing Trade 5r minimum target on GBPUSD We struggled to get this GBP USD Buy idea posted sooner on this platform (Mobile issues we are away from desk now until Monday) However the Risk Reward ratio on this trade favours still posting now even 18 pips later than our own actual entry at 1.15770 Please don't forget to like our ideas if you find them useful and also subscribe to our channels for our latest trade ideas ------------------------------------------------------------------------------------------------------------------------------------------------------------- If this trade remains onside coming into market close we will Hold the position over the weekend as a swing trade ------------------------------------------------------------------------------------------------------------------------------------------------------------- This just goes to show our followers that you DO NOT need the absolute low of any market to be a BUYER and create a very LOW RISK high REWARD trade. You DO NOT need to squeeze every pip/tick out of the market either to have a successful trading career. Take you trade - Let it play out WIN LOOSE or DRAW & move on to the next opportunity. Enjoy your day & keep Seeking Pips We will continue to share our trade and chart ideas on this FREE platform if we see the interaction from the community, so PLEASE SUBSCRIBE TO SEEKINGPIPS HERE ON THIS PLATFORM.
Long
by seekingpips
1
Will the pound recover after Truss’ resignation?The British pound is likely to see another few months of turmoil now that Prime Minister Liz Truss has resigned. During Truss’ reign, which latest a mere 45 days, the shortest tenure in UK prime ministerial history, the pound was rocked by her government’s plan to borrow billions of dollars to fund tax cuts. On the day of the release of the ‘mini-budget’ that contained the tax cut plan, the pound fell from ~$1.12000 to its weakest level ever, with speculation that it could hit and cross parity with the US dollar, a forex reality that had only been explored once in the past, in 1985, when the super-strength of the US dollar decimated the pound (along with every other currency). The pound did recover from this crisis as Truss and her government began to backtrack on the planned tax cuts, with further support added to the GBP from an emergency intervention from the Bank of England that is a story for another day. As it stands, the GBP now has a few major events ahead of it that could kick up some volatility. The first is whether Boris Johnson, the Prime Minister that was succeeded by Truss, will contest for the leadership of the country's ruling party, and by extension the Prime Ministership. It is anyone's bet how the market will react to this possibility. The second is whether Rishi Sunak, the UK’s ex finance Minister who was beaten by Truss for the top position in September, will contest for the Prime Ministership. As a known face with a known agenda, Sunak contesting for the job could help provide some stability to currency markets. Sunak had earlier dismissed Truss’ tax cut plans as fantasy economics in favour of a very gradual application of tax over a decade. The GBP/USD is currently priced at $1.1230, -2.3% down from its October peak, and any bias in any direction may emerge in the next few days as the leadership race heats up.
by BlackBull_Markets