Congratulation for those that fallowed me in the last 2 weeks, 1000 pips is a nice result.At this moment we are at the beginning of a new cycle. Therefore i would like to post for you my plan for the next period.
I still have my shorts from 1.6509 therefore as i wrote in the graph i would only add some shorts in the red area with SL above 1.6130
Fundamental analysis :
Firstly, no doubt we have better macroeconomic results from USA than from UK, moreover the disappointing PMI and also other macroeconomic indicators tell us that the moment for a rise of interest rates is still far away.
BUT we have an another big risk for the GBP .. We can notice a tendency of separation from the EU ( not a proper separation) but some kind of isolation.. this political tendency is seen as negative for the GBP, of course there are pro and contra arguments but the main sentiment is negative. Therefore in the long term this will bring us a sustainable long term trend.
See the graph bellow to see the close of this week and day that opened the way to lower quotation.
I still have my shorts from 1.6509 therefore as i wrote in the graph i would only add some shorts in the red area with SL above 1.6130
Fundamental analysis :
Firstly, no doubt we have better macroeconomic results from USA than from UK, moreover the disappointing PMI and also other macroeconomic indicators tell us that the moment for a rise of interest rates is still far away.
BUT we have an another big risk for the GBP .. We can notice a tendency of separation from the EU ( not a proper separation) but some kind of isolation.. this political tendency is seen as negative for the GBP, of course there are pro and contra arguments but the main sentiment is negative. Therefore in the long term this will bring us a sustainable long term trend.
See the graph bellow to see the close of this week and day that opened the way to lower quotation.
