Bullish on GBPUSD after Interest Rate Drama
Updated
After the US interest rate decreased to 5%, instead of the expected 5.25%, the US market went into high volatility, which I decided to wait out of making any trades.
Since things have settled down, I have decided to open a long position on PEPPERSTONE:GBPUSD. Following the market trend found on both intraday and daily charts, I believe that the trend will continue despite the high amount of volume from the evening's drama.
The UK will also adjust their interest rate tomorrow at 11:00 BST, so I will be at the charts ready to respond to any potential stop loss adjustments.
Since things have settled down, I have decided to open a long position on PEPPERSTONE:GBPUSD. Following the market trend found on both intraday and daily charts, I believe that the trend will continue despite the high amount of volume from the evening's drama.
The UK will also adjust their interest rate tomorrow at 11:00 BST, so I will be at the charts ready to respond to any potential stop loss adjustments.
Trade closed: stop reached
Stop loss bounced lower than expected and then returned, and I couldn't respond since I was in bed! Frustrating... but reopening the position ahead of the BOE Interest rate decision
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