GBPUSD
I usually do not like to see the market indecisive, putting in a pattern completion, while teasing another potential pattern completion, right before a monetary policy release. And here is no different! The market always feels "flustered" or "cluttered" and I can rarely gauge what will happen based on my price action strategy that I love so much.
Would love to bank on a whipsaw reaction this time around but that would call for the market to push (in my mind) 60+ pips up overnight, atleast, going into the press release. A kick up another 30 after the release going into Gov Carney's press conference (putting the market in the bear cypher completion territory), and then Gov Carney saying something overtly dovish driving the market back into previous structure lows. (Or something to that effect). But there is too much clutter for me to attempt it so! I am on the sideline, patiently waiting for it all to happen.
How do you feel about this pair overnight?
Up? Down? Sideways?
Drop a comment below...