As expected GBP reached 1.40 level yesterday. I was thinking that it may reject this area which it did with impeccable timing from bad UK news this morning at 7am.
Pullback finished around 1.3910 about an hour ago. I did place a cheeky long position at 1.3910 which the expectations it will continue up from here.
Its Friday - be careful as sometimes Cable likes to act like a naughty child at the end of the week with stop losses getting taken out just before we break for the weekend.
13.30 GMT News in the US - PPI - if anything this should make the DXY drop a little just to give cable a final push to the upside.
NEXT WEEK - clearing all my analysis when the markets close tonight and will post a fresh set of idea monday.
Normally I don’t trade Fridays but just analyse my charts.