GBP/USD: New perspective what UK new Finance Minister said
Updated
Fundamental Analysis:
1) Britain's new Financer Minister Jeremy Hund on Monday scrapped Prime Minister Lizz Truss's economic plan, which had sapped investor confidence in Britain in recent weeks.
2) The British finance minister take decision to reverse most of the government's "mini budget" prompted investor to reassess the outlook of UK interest rates
3) Bank of England comment that they will go ahead with plans to start selling some of its huge stock of government bonds with the first sale due on November 1 2022, a day later than previsouly planned to avoid clashing with a government fiscal statement.
4) Sterling retained strenght as investor sentiment soared as the UK rowed back on its ill-fated tax-slashing mini-budget which had roiled markets.
***5) The boosting sentiment about the tax cuts previously announced by Prime minister Liz Truss, now on today UK new finance minister Jeremy Hunt has canceled nearly all of them fiscal plans that prompted New Prime Minister Liz Truss.
6) As UK government announced the program to cut ta and reduce public spending, there're a potential risk of recession are still growing in the UK economy since 2021, forcing to raise taxes and weigh deep spending cuts.
Fundamentally, we see another clue that what New finance minister Jeremy Hunt do. As Mr. Hunt reverse most of the government fiscal plan to help support the fund massive tax cuts with borrowing, as a smart plan to resulting in the UK Central Bank as stepping in to restore calm in the Britain markets. What I comment yesterday, now we see another perspective and very bad what Pound news came out. But now, we have that Bank of England plans to start selling some of the stock government bonds on NOvember 1 2022. What it's look a worry news that not sound good.
Technically, we see a possible short position to sell pound based this news that I show up. I will put a sell order limit to $1.1351 USD (in the smart point to sell), Stop Loss to $1.1400 USD and take profit to $1.1171 USD.
Good luck!!!
I believe that Pound it's the time to put an eye in this perspective to short GBP in Forex pars.
1) Britain's new Financer Minister Jeremy Hund on Monday scrapped Prime Minister Lizz Truss's economic plan, which had sapped investor confidence in Britain in recent weeks.
2) The British finance minister take decision to reverse most of the government's "mini budget" prompted investor to reassess the outlook of UK interest rates
3) Bank of England comment that they will go ahead with plans to start selling some of its huge stock of government bonds with the first sale due on November 1 2022, a day later than previsouly planned to avoid clashing with a government fiscal statement.
4) Sterling retained strenght as investor sentiment soared as the UK rowed back on its ill-fated tax-slashing mini-budget which had roiled markets.
***5) The boosting sentiment about the tax cuts previously announced by Prime minister Liz Truss, now on today UK new finance minister Jeremy Hunt has canceled nearly all of them fiscal plans that prompted New Prime Minister Liz Truss.
6) As UK government announced the program to cut ta and reduce public spending, there're a potential risk of recession are still growing in the UK economy since 2021, forcing to raise taxes and weigh deep spending cuts.
Fundamentally, we see another clue that what New finance minister Jeremy Hunt do. As Mr. Hunt reverse most of the government fiscal plan to help support the fund massive tax cuts with borrowing, as a smart plan to resulting in the UK Central Bank as stepping in to restore calm in the Britain markets. What I comment yesterday, now we see another perspective and very bad what Pound news came out. But now, we have that Bank of England plans to start selling some of the stock government bonds on NOvember 1 2022. What it's look a worry news that not sound good.
Technically, we see a possible short position to sell pound based this news that I show up. I will put a sell order limit to $1.1351 USD (in the smart point to sell), Stop Loss to $1.1400 USD and take profit to $1.1171 USD.
Good luck!!!
I believe that Pound it's the time to put an eye in this perspective to short GBP in Forex pars.
Note
Break Even: $1.1296 USD. I'm protecting 54 pips earned in this trade. In case that the price going to up, I will get 5.54% in profit for now. But at the moment, Pound it's around $1.1216 USD and we're in profit over 130 pips. that was a perfect trade that I catched the smart entry price around level of $1.1350 USD - $1.1357 USD putting a sell order limit in the institutional zone and smart point
I HOLD this trade until $1.1171 USD for now as this have all chance to lead in my short perspective.
Perfect Trade!!!
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