Long GU - It must go up before heading down.
Possible reason for downside - November BoE could cut rates further and add to it's current QE.
EU talks also start about Brexit towards end of 2016 so keep an eye on that.
Short GU with SL of 1.4675. On the Daily Chart RSI is over sold on Stoch RSI this suggests a possible downside but the USDollar weakening due to Yens strength, it might weaken further but Japanese Finance Minister has already commented on 30th of April saying Yens strength is extremely worrying.
I think traders see this as a caution and will now possibly start...
I'd wait till some more clarification before going long or short now on GU
It should really go 1.4050 level before going up, I think the reason I didn't today because of the as expected update from BoE. Friday as we know is a profit taking day mostly so we could see possible downside on GU starting with Asia session followed by European session and then it should...
Go Long on GU with target of 1.44 and then 1.45
USA Inflation will be under 2% for remainder of 2016 and there is no way Fed will hike rates because of this and for this reason it will be impossible for them to hike rates.
Dollar appreciation also slows down world economy so it is in the best interest of USA to keep interest rates low or actually go back on the...
Scenario 2 not avoided yet, if we close above 1.4150 today then we should be on our way up starting tomorrow.
Main Catalysts for this upward move could be tomorrow's data releases from the UK on it's retail sales being good and from USA if the data is poor for jobless claims.
There is no other driver than these tomorrow as fear of Brexit took Cable today to...
I'm now suggesting we go long on Cable. We are heading to 1.4670 level. Keep an eye out for Brexit related news and provided there isn't any strong support for Brexit on polls or any influential politician doesn't come out with supporting Brexit we should really be heading this way.