Rationale to be bearish GBP :
1. This is short term trade (at least that is my plan), news feed suggest that market shift their attention to Brexit (UK PM May meeting in Brussels on Friday), so until a confirmation, there is uncertainty and that usually pressures the Sterling. Plus this is a range dip trade
Rationale to be bullish Yen :
1. Currency correlation. USD seems to be weak as well as GBP. It won't make sense to trade GBPUSD at this point. Yen seems to strengthened when both Sterling and Dollar weak
2. Equities market is a bit down now, usually signals least greedy market (risk on)
1. This is short term trade (at least that is my plan), news feed suggest that market shift their attention to Brexit (UK PM May meeting in Brussels on Friday), so until a confirmation, there is uncertainty and that usually pressures the Sterling. Plus this is a range dip trade
Rationale to be bullish Yen :
1. Currency correlation. USD seems to be weak as well as GBP. It won't make sense to trade GBPUSD at this point. Yen seems to strengthened when both Sterling and Dollar weak
2. Equities market is a bit down now, usually signals least greedy market (risk on)
Comment:
Price test 148.500.
Comment:
very boring day. ofcourse it is.. Thanksgiving day, nobody is trading.. in a way
Order cancelled