Following from the weak US economic data last friday, further weakness in the USD is anticipated for the weak ahead.
Therefore, two trade ideas for the GBP/USD
Trade Idea 1: Price could bounce off the 1.2855 support level towards the 1.2970 resistance
Given positive CPI data released for the GBP,
Trade Idea 2: Price could break the resistance level, with a big move towards the next resistance level.
Therefore, two trade ideas for the GBP/USD
Trade Idea 1: Price could bounce off the 1.2855 support level towards the 1.2970 resistance
Given positive CPI data released for the GBP,
Trade Idea 2: Price could break the resistance level, with a big move towards the next resistance level.
Note
Would have closed the first trade at +40pipsunfortunately, did a rookie mistake, applied two trade ideas to 1 post
still looking forward to the GBP CPI data tomorrow
Trade closed manually
First trade closed at 40pips2nd trade nvr materialised.
although we saw a stronger cpi number, price movement did not align with the data
this was due to several factors, one of which, was the expectation of rate decisions leading from this data released
Join my mailing list jindaotai.com/joinme
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.
Join my mailing list jindaotai.com/joinme
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.