At the current moment it looks as if the Fed and Boe could be headed in opposite directions. I'm looking to get short this pair. The 1.50 level will provide some support but once we break through that it should open things up to continue to push downward. I'm looking for a pullback to resistance and then a short. I have three targets that culminate in a retest of the low in April.
Comment:
I'm honestly looking to add to this position. We are at the .382 retracement which coincides with the 1.52 level. Also, some resistance as well. A really good risk/reward. Seems like a low risk/high reward trade.