In the short term the pound may test the 1.5633 level

May 18, 2015

Buy on rebound from 1.5633 level with 1.5812 target. Stop loss = 1.5580.

Reason for the trading strategy

The UK's Rightmove house price index fell by 0.1% (m/m) in May. In annual terms, price growth has slowed down from 4.7% to 2.5%. The data reflect low inflationary pressures in the country, as well as a weakness of the purchasing power of British households. With an adjusting decline to the 1.5633 level, opening long positions in the pound should be considered.

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Donald Trump is finally in power, a new era has arrived, and his policy plans in the first couple of weeks will override fundamentals. Markets spent more than two months pricing in growth policies promises, lowers corporate taxes, and deregulations, now it is time to deliver as markets will no more move on words but actions...
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