The DXY is gaining strength as of last week's Fed rate decision.
Short term price action is favouring the DXY. However, it is important to keep in mind that the GBP interest rate adjusted for inflation is stronger than that of the USD. Therefore, GBPUSD remains in an uptrend.
This Wednesday and Thursday will give us an update on the UK interest rate and inflation numbers. Depending on the outcome and how the price reacts, I will be looking to add to my short positions.
Short term price action is favouring the DXY. However, it is important to keep in mind that the GBP interest rate adjusted for inflation is stronger than that of the USD. Therefore, GBPUSD remains in an uptrend.
This Wednesday and Thursday will give us an update on the UK interest rate and inflation numbers. Depending on the outcome and how the price reacts, I will be looking to add to my short positions.
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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.