GBPUSD - small retracement for next week before a long rally
GBPUSD Trade plan for July17
Expect a small retracement for today and early next week before it goes north on 2nd week July.
- PM May's new cabinet is in place and looks good to hunker down on the Brexit business
- Economic indicators look good generally, even more so after the election as the political situation is more or less stabilized
- Watch out for USD/Fed on interest rate rise, could throw a spanner in the works
- Gov Carney's on 28June indicated possible interest rate increase
Entry: sell until 1.293 then buy
Exit: 1.325
Expect a small retracement for today and early next week before it goes north on 2nd week July.
- PM May's new cabinet is in place and looks good to hunker down on the Brexit business
- Economic indicators look good generally, even more so after the election as the political situation is more or less stabilized
- Watch out for USD/Fed on interest rate rise, could throw a spanner in the works
- Gov Carney's on 28June indicated possible interest rate increase
Entry: sell until 1.293 then buy
Exit: 1.325
Comment:
U-turn @ 1.296; buy entered
Comment:
Update exit: 1.347
Trade active:
Another retracement cycle completed. Sticking to buy for long term
Trade closed manually