As everyone knows, the liquidity in Sterling has risen exponentially over the past few months due to Brexit and at the same time, Euro is collapsing and Fed has started to pause rate hikes for this year and is data dependent. Logically, if we see, Euro is on the verge of collapse and fundamental of the UK is still strong or rather better than the EU zone. Brexit, in my opinion (hard/soft), is better for the UK in the long run plus UK`s surplus will increase that could be divested properly into different sectors.
Overall, I see pound is a good buy against deteriorating global data : (Autralia: Housing and BAnking sector weak), Eurozone(completely rocked), US ( inconsistent since past few months) and Brexit: even a soft tone is enough for the push in pound.
Hence, on a short term, quid is a buy aove 1.3250 for 1/35 and SL : 1.3180
Overall, I see pound is a good buy against deteriorating global data : (Autralia: Housing and BAnking sector weak), Eurozone(completely rocked), US ( inconsistent since past few months) and Brexit: even a soft tone is enough for the push in pound.
Hence, on a short term, quid is a buy aove 1.3250 for 1/35 and SL : 1.3180
Trade active:
Long Triggered from 1.3230 &50
Trade closed: stop reached
Trade active:
Second Long triggered @ 1.3180 with the same bias and anticipation of it reaching 1.35