GO SHORT GBPUSD
Entry: 1.19430
Stop loss: 1.20570
Take profit: 1.15700
Reason:
he GBP has also benefitted from a hawkish repricing of BoE rate hike expectations thatwas driven by the paring back of recession risks for the UK economy. The strong pick-up in the UK PMI surveys for February signalled that growth likely continuesto hold up better than expected at the start of this year. The deterioration in global investor risk sentiment and broader USD rally has meant though that cable has still fallen back below the 1.2000-level
Entry: 1.19430
Stop loss: 1.20570
Take profit: 1.15700
Reason:
he GBP has also benefitted from a hawkish repricing of BoE rate hike expectations thatwas driven by the paring back of recession risks for the UK economy. The strong pick-up in the UK PMI surveys for February signalled that growth likely continuesto hold up better than expected at the start of this year. The deterioration in global investor risk sentiment and broader USD rally has meant though that cable has still fallen back below the 1.2000-level