Great Britain Pound vs United States Dollar
Great Britain Pound vs United States Dollar? More likely Theresa May vs Janet Yellen!
From yesterday's session, we've seen the United States Dollar decline due to the huge extensive disappointment with the USD's economical data. However, following Yellen's Hawkish stance, the Dollar was yet again saved by Yellen forming several pin bar and clouds both on daily (e.g. XAGUSD) and on H4 (e.g. DXY, AUDUSD, EURUSD...)
With the formation of a fakey bar yesterday, I've decided to enter a short position on this pair. Considering that the Pound is still in bad shape and that the Dollar has a renowned strength, I believe downside to this pair is imminent. The question is until when. Looking at the Fibonacci, it has a maximum downside until 261.8% which is also the 200SMA on the daily timeframe.
From yesterday's session, we've seen the United States Dollar decline due to the huge extensive disappointment with the USD's economical data. However, following Yellen's Hawkish stance, the Dollar was yet again saved by Yellen forming several pin bar and clouds both on daily (e.g. XAGUSD) and on H4 (e.g. DXY, AUDUSD, EURUSD...)
With the formation of a fakey bar yesterday, I've decided to enter a short position on this pair. Considering that the Pound is still in bad shape and that the Dollar has a renowned strength, I believe downside to this pair is imminent. The question is until when. Looking at the Fibonacci, it has a maximum downside until 261.8% which is also the 200SMA on the daily timeframe.
