FX:GBPUSD British Pound/U.S. Dollar
I will address the UK Claimant Count and UK Retail sales. Now, retail sales look bad (Consumer Confidence was terrible (http://www.tradingeconomics.com/united-kingdom/consumer-confidence ... hey let's go shopping...no way!) but that is for Thursday.
For Wednesday, there is the Claimant Count, and that looks AWESOME, according to my predictions.
I am going to look at the job market in the UK. Check it out for yourself and you will agree: https://www.theguardian.com/business/2016/sep/08/uk-jobs-market-rebounds-august-recruitment-full-time-jobs
b]UK Claimant Count: September 14, 2016
According to my economic-fundamental analysis of the economic calendar (I still do not believe it!): BULLISH NEWS COMING UP for GBP!
According to my analysis of the job condition in the UK, for some reason it is extremely . Companies were hiring left and right in August, everything from the service sector to the industrial and manufacturing. This is something that it hard for me to believe, but my belief doesn’t matter. What matters is the evidence. Thus, I expect the Claimant Count to be and possibly that potential catalyst to push the GBP higher in some pairs. Picking the RIGHT pair is the challenge.
Pairs to consider:
Pairing the GBP with the USD is probably NOT a good idea because of dollar strength, but it might make a good short-term trade. It is better to pair the GBP with a weaker currency, like the CHF or JPY, jut not the dollar; however, I am long GBPUSD with a few microdots because on n eight hour chart, the trend is still in place and support was not breached.
What to look for in the technical picture:
I am looking for some volume-price signs and other signs that GBPUSD could turn around before or during the news event. I am looking for pairs that will behave in a way to the upcoming GBP event. GBPNZD looked , it stopped me out short yesterday twice.
Some banks still are calling for a GBPUSD down to 1.2600 and 76% of large speculators remain short. This is an extreme, and suggests that it is oversold, and that it is falling down to fool everyone; however, just because it is at an extreme does not mean that it will go up. Look at the chart and see what they do.
*UK data has been hard to predict since the BREXIT, but like I said and I will say it again, this month I will try it. Last week on spot, and yesterday, my guidance was also correct in terms of the plunge in the price index affecting the data. I do not see anything hindering or affecting the data coming out for Wednesday in the Claimant Count, unless I am wrong in looking a job growth, if I am wrong, then I probably will have to give UK data another month or two to stabilize before Itry to predict it like before
Trade closed manually: ...retail sales will be crap. Dollar is bullish.
Comment: Wonderful Fundamental Data and Outlook finally kicked in after hibernating:
Comment: Just to re-iterate this. This was a news trade for a few pips like I explained at the beginning. Last week, I went short the GBPUSD: