ridethepig

Selling Cable with incoming Dollar strength

Short
FOREXCOM:GBPUSD   British Pound / U.S. Dollar
A simple trade here from a technical sense as market has overpriced the odds of Brexit being good for the economy. We are selling the highs in Cable one more time. A departure from the EU is sending this currency one way, and one way only.

On the USD side there is a lot of good news coming back in on the macro front and the FED will be questioned on hikes sooner or later. Expecting a move in Q3 so it's time to start pricing in more hikes on the dollar side and bad news on the UK side.

Good luck everyone in this live
Comment: Brilliant moves from the cable assassins !!
Comment: We are making this one look easy guys... well done!
Comment: First targets have arrived, well done.
Trade closed: target reached

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Comments

Nice idea, I'm very much bearish as well with sell just under the 100fib @ BE. I'm not convinced this is the one that will go though, price not looking impulsive to me to the downside but that may change with new's coming out in around 30min.

I'm thinking we will get Z up with the potential bull hidd div on the H1 but let's see. Either way I'm still very much bearish longer term and waiting for more date before putting an idea out there.
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Same here pig. Well spotted.

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ridethepig TradingShot
@TradingShot, Good luck mate, the weak Sterling story will weigh in heavy today.
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