Tag Archive USD

Scalp Trade on GBPUSD




So not the trade we were hoping for with a trade on GBPUSD.

We did hope for further momentum to the upside to the area of 13800 however we took notice of some factors which may mean the  bearish trend is expected to prevail for a while.

In the economic news, on Tuesday the Fed Chair Jerome Powell Speaking at the High Level Conference on the International Monetary System in Zurich and on Thursday the Bank of England Gov Mark Carney will be delivering the BoE decision on Interest Rates, though we are seeing a shift in expectations and the likelihood for the BOE to raise rates are looking rock bottom, and we’ve seen the big shift in the chart.

The trend is still looking at the downside and may not break the previous lows but we could still be in for an extended period of a downtrend.

So we’ve settled on a quick scalp trade, still £27.60 if still profit for the fund.

trade

(Our trading and image was done using an account with UK based broker IG)

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