My system tells me to swing long GBP towards 1.3 area. With inflation picking up in UK the path of least resistance is up. The fed is cornered and i dont think that any type of hike will help them today. I am expecting 25bps, markets will buy usd and then a dovish speech from powell. If they pause it will be the same. Only if they cut i think that will cause some massive panic and everything will sell off but this is a far fetched idea.
Stay safe and cheers!
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Closed some exposure and hedged with EUR and BTC shorts. If market enters in panic mode today with SPX cracking the trendline here.. Its gonna be game over
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still in this long..but waiting for the market to resolve one way or another... i am not adding to my pos so i am sitting comfy in a low risk trade.. will add if i see fuel for the next leg up. If not.. Short. i re-entered the short i had. Got stopped by but you can check the idea here. Target remains the same
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GBP swing looks good. Stopped on the short. Will continue to add to my pos as April is a good month for GBP...Any pullback will be a blessing
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Added a bit more exposure to this trade. 1.3 area looking to
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De-risked.Dont like it that much now
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Added to my longs here a bit more
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Will probably exit GBPUSD on Monday since its going to be end of month. Been holding this for a while
Trade closed manually
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Closed the pos for 3.8R in total including scaled positions.