Sell on a level breakthrough of 1.5465 with 1.5400 target. Stop loss = 1.5515.
Reason for the trading strategy
Today at 10:00 GMT, the CBI balance of manufacturing orders for the UK will be published. The indicator's growth from -1 to 0 p., expected in September, can provide slight support for the pound. Meanwhile, from a technical point of view, the GBP/USD pair breaking through the level of 1.5465 may cause it to test the mark of 1.54.
January 18, 2017 Stock markets continued to stabilise
German HICP confirmed at 1.7% y/y, as expected, with prices up 1.0% m/m. The sharp acceleration from just 0.7% y/y in November was mainly due to base effects from lower energy prices and the breakdown showed that prices for heating oil jumped 21.9% y/y in December...
January 18, 2017 Pound Sterling soars on PM May's Brexit speech
The British pound posted strong gains yesterday with the Prime Minister Theresa May outlining her vision for Brexit and the parliamentary approval of the Brexit deal...
January 18, 2017 Sterling remains in the spotlight
The Sterling/Dollar exploded into extreme gains on Tuesday with prices clipping above 1.2400 after Prime Minister Theresa Mayâ€™s optimistic Brexit speech signaled that the United Kingdom was seeking a deal which would satisfy both parties...
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