GBPUSD LONG until BOE Meeting Thursday - then SHORT after news
GBPUSD - under scrutiny due to brexit - but for the time being, all eyes are on their decision coming up on Thursday in relation to the Bank Report.
GBP has possible high impact reports coming this week, which the market will automatically price in.
DXY is taking a breather for the week. With that being said, GBP has a great angle to increase in value prior to the meeting. I am currently in a LONG position that I will hold just prior to the release of the news. From there, I will wait for the final surge before taking final profits. After the first signal, a pure reversal will be taken place with shorts headed back down to 1.3000
Weekly FIB levels show GBPUSD floating along the .50 FIB.
GBP has possible high impact reports coming this week, which the market will automatically price in.
DXY is taking a breather for the week. With that being said, GBP has a great angle to increase in value prior to the meeting. I am currently in a LONG position that I will hold just prior to the release of the news. From there, I will wait for the final surge before taking final profits. After the first signal, a pure reversal will be taken place with shorts headed back down to 1.3000
Weekly FIB levels show GBPUSD floating along the .50 FIB.
Comment:
This is my personal opinion, and not to be used for trading advice or professional advice. Please let me know your opinions. Good Luck.