GBPUSD - small retracement for next week before a long rally
GBPUSD Trade plan for July17
Expect a small retracement for today and early next week before it goes north on 2nd week July.
- PM May's new cabinet is in place and looks good to hunker down on the Brexit business [ok, they are squabbles and there will be more along the way]
- Economic indicators look good generally, even more so after the election as the political situation is more or less stabilized
- Watch out for USD/Fed on interest rate rise, could throw a spanner in the works
- Gov Carney's on 28June indicated possible interest rate increase
Entry: sell until 1.293 then buy
Exit: 1.325
Expect a small retracement for today and early next week before it goes north on 2nd week July.
- PM May's new cabinet is in place and looks good to hunker down on the Brexit business [ok, they are squabbles and there will be more along the way]
- Economic indicators look good generally, even more so after the election as the political situation is more or less stabilized
- Watch out for USD/Fed on interest rate rise, could throw a spanner in the works
- Gov Carney's on 28June indicated possible interest rate increase
Entry: sell until 1.293 then buy
Exit: 1.325
Note
U-turn @ 1.296; buy enteredNote
Update exit: 1.347Trade active
Another retracement cycle completed. Sticking to buy for long termTrade closed manually
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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.
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.