Bullish on GBPUSD after Interest Rate Drama
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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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.