BombayBulls
Long

Trading Another Leg Higher in GBP/USD

FX:GBPUSD   British Pound/U.S. Dollar
32 0 0
Now since the Fed is out of the way ( well until next time ! ), we can start selling the dollar comfortably against GBP. Our last call to buy British pound against the dollar was spot on. What we are waiting for now is GBPUSD             retracement towards 1.5500 / 1.5450. That is where we can initiate a long with an expectation of another leg higher. From yesterday's outcome it's evident that Fed lacks courage to take on markets and they will stay put. While positive sentiment towards the pound is gathering momentum ( of course until next weak data point ! ) and we would like to take advantage of that in short term.

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