Pound Sterling performed much better against the US Dollar than other currencies which form DXY benchmark: while the whole Dollar Index gained 5% since October 2016, GBP gained 7% to the Dollar Index.
I believe the correction hasn´t completed yet and expect one more leg up. Will long 1.245, targeting 1.34 to be achieved before the end of the year. This movement would complete the correction Wave 4 and open space for further decline.
Comment
We still have to arrive to the target values. Waiting to reach the key levels of 1.244 or 1.233
Comment
Ready to open a long position
Comment
Price has gone a little bit lower than expected but I´m watching to long this pair. Possible entry levels: 1.223 and 1.210
Trade active
Longed 1.223 on Friday, moved to breakeven. Let´s see what happens on a thin market
Please, follow your strategy! Always!
If there is no strategy that has proven itself successful, please do not trade with real money!
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.