GBPUSD - Wild Swing after Cut Vote
Updated
I followed the BoE meeting this morning. I'm not surprised to see officials voting for cuts already, and I believe the 2 votes for "hike" are more symbolic than actual, as the only possible option was maintaining the current rate.
Technically, all the movements happened post 10, or when Chicago PMI got released. GBPUSD is more pushed by the bullish indices(which I am referring to Nasdaq, SPX, not FTSE100), and not really from a fundamental perspective.
Again, I believe it is a good opportunity to short. The dollar index looking good, and GBPUSD is at a position where a breakout is likely to take place, which I believe, is a downward breakout.
Keigu,
Technically, all the movements happened post 10, or when Chicago PMI got released. GBPUSD is more pushed by the bullish indices(which I am referring to Nasdaq, SPX, not FTSE100), and not really from a fundamental perspective.
Again, I believe it is a good opportunity to short. The dollar index looking good, and GBPUSD is at a position where a breakout is likely to take place, which I believe, is a downward breakout.
Keigu,
Note
Wow, the movements are truly wild. Expected it to be volatile, but not that insane. I am still using the same TP and SL, and I am not seeing any fundamental change. USD looks strong in the long term, but this is just a short-term speculation. Good luck to all.Keigu,
Trade closed manually
Decided to re-roll into USDJPY Shorts. Trading closed for margin purpose.
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