Tomorrow is big day for US dollar and by looking @ Cable (+ other major pairs as well), I lean towards bearish outcome from the FOMC presser( bearish for USD). So far Pound has been extremely bullish against the greenback and the fact that ahead of such an important event, Cable refuses to give back any gains, makes me more confident to stay bullish .
But of course - the outcome of the FOMC Press Conference cannot be predicted so, things may change in seconds. Just saying.
Well, I have a very simple approach with this one.
It took so much time for this pair to breach that "magical" 1.7000 level and now we just turn around and go back? No, no :) We did that once already. This time, i think it is up,up,up until 1.72 area (or close to that).
I'm with you on that one sir. Although a pullback to 1.69 wouldn't suprise me. I had it long from 1.683 before the Carney madness and closed 1.696 area, the right decision so far. I believe FOMC will be the catalyst for the next run. Hopefully we will get a good long entry tomorrow.