Today we await MPC Official Bank Rate Votes, Monetary Policy Summary, Official Bank Rate, Asset Purchase Facility and the votes all at 12.00 Uk. time. Price suggest a nice balance in the actions we have observed so far in the cable, we have a clear action point towards the long and short opportunities. 1.3051 is where we will engage in going long, price printed several higher highs and higher lows in the ongoing trend (1Hr Chart) more buying interest will be above 1.3080. However, we will close any buying below 1.3026 as this area is key to a successful buying position today. 1.3213 is the initial target set for this trade.
Trade active
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Comment
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Bulls are almost fully in control of the situation, so far we are 40 Pips up on this move. Long continues as long as price is above 1.3080