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DavidBelleFX
Aug 4, 2016 10:27 AM

GBPUSD Long

BRITISH POUND / U.S. DOLLARICE

Description

I am hugely contrarian. If there isn't a cut, we will rally up to 1.395, potentially to 1.42. At the same time, I think even if we do cut, we will see a rally, as with the AUDUSD last week when the RBA cut.

Looking at volume, we are well below the value area low, and I feel that the market needs to move back towards it.

Comment

Was worth a punt due to upside availability. Stopped.
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