Buy on a level breakthrough of 1.5531 with 1.5750 target. Stop loss = 1.5450.
Reason for the trading strategy
According to the exit poll, the Conservatives, who can get 316 seats in a 650-seat parliament, are in the lead in the UK parliamentary elections, while the Labor party has only 239 seats, the Scottish National Party (SNP) has 58 seats, the Liberal Democrats - 10 seats, and the United Kingdom Independence Party (UKIP) has 2 seats. The British currency reacted to this data by increasing, reaching the level of $1.55. Today, a fixation of long positions in the pair GBP/USD is possible at the moment of publication of data on the US labor market.
October 27, 2016 Sterling falls notwithstanding UK GDP
On Thursday, the British pound sagged against the greenback, notwithstanding data on third quarter growth showing that Britain’s economy shrugged off the immediate shock of the Brexit referendum...
October 27, 2016 Dollar falters but strength remains ahead of jam-packed week
The US dollar has taken a bit of a breather this week as it consolidates its recent gains ahead of major economic data and events in coming days. For around a month, the greenback has been on an exceptionally sharp incline as expectations for a Federal Reserve rate hike this year have progressively increased...
October 27, 2016 Oil slides on OPEC uncertainty
WTI Crude received a pummelling on Tuesday with prices sinking below $49.50 after reports displayed an inflated rise in U.S inventories which revived concerns over the excessive oversupply in the markets...
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