Long & Short GBP/USD
Putting my head on a block with this one as there are a few variables to consider in the time that I expect this move to happen but as it stands at the moment the fundamentals are starting to point to the USD long positions starting to fizzle out by Mid 2016 I fully expect the USD to be a neutral currency. The GBP did have dovish comments from Mark Carney (governor of the BoE) last week but at the same time unemployment fell and we had an up tick in inflation.Although this is not enough to cause a sustained rally in the GBPUSD pair it is certainly worthy of an adjustment to retest previous support as resistance from back in April last year. Because of the neutral status expected in the US dollar I expect the 14000 to be a floor on the GBP/USD but i would expect a retest of this price before the second halve of the year hence my double prediction here! keep the stop loss tight for the upside trade but give a little more for the downside as the fundamentals still point to the downside for the time being. Want to know more about how I trade bankonadam.com
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