Counter Trend Short on Pre election volatility
One week for the election, as of now pound rally sustains as conservative majority in election is well priced in. Risk to downside is higher as lately economic data's haven't been satisfactory. Next weeks GDP should give some signs
We are now trading at 3 year high, last time gbpaud traded at this 1.92500 level was back in June 2016. Its gonna go down but catching the top would be tough. Hence best bet would be to monitor the development in political stories and get the best short price. A change of trend would require a clear break below 1.89
We are now trading at 3 year high, last time gbpaud traded at this 1.92500 level was back in June 2016. Its gonna go down but catching the top would be tough. Hence best bet would be to monitor the development in political stories and get the best short price. A change of trend would require a clear break below 1.89
Comment:
Short triggered at 1.93400
Comment:
Taking partial profit on test of 1.91500
