GBPUSD Higher
Trying GBPUSD higher here.
From a technical perspective We've tried to break down at a pretty strong level and the follow through doesn't seem that strong even though the story seems to follow in the same downward direction, we could be running out of steam here potentially.
i think that the fed is too priced as 20% chance of 100bps seems unlikely to me with CPI still falling although not as fast as expected. I think the fed is overall in line with expectations and the USD gets a little weaker.
I don't think GBP has priced in any good news on the energy side so this could help as well with uk energy prices falling.
sentiment and positioning is extremely low which is normally a good sign of a potential reversal.
not trading/investment advise, feedback welcome!
From a technical perspective We've tried to break down at a pretty strong level and the follow through doesn't seem that strong even though the story seems to follow in the same downward direction, we could be running out of steam here potentially.
i think that the fed is too priced as 20% chance of 100bps seems unlikely to me with CPI still falling although not as fast as expected. I think the fed is overall in line with expectations and the USD gets a little weaker.
I don't think GBP has priced in any good news on the energy side so this could help as well with uk energy prices falling.
sentiment and positioning is extremely low which is normally a good sign of a potential reversal.
not trading/investment advise, feedback welcome!
Note
changing stop to 1.12322 for 1.5% risk to see how we do through the fed decision
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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.