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Pound’s Upward Movement Could Be Limited

June 13, 2017 in /by

Dear Traders, It has been a profitable trading day for sterling bears and so we were able to benefit from the fall in the pound while our short trade has hit all profit targets. The pound slid to a low of 1.2638 on political uncertainty following last week’s snap election. The most important piece of […]

Euro And Pound Steady Ahead Of FOMC Decision

June 12, 2017 in /by

Dear Traders, The British pound stabilized above 1.27 after touching a fresh low at 1.2635 on Friday. It seems that sterling at least temporarily reached bottom after Prime Minister Theresa May’s Conservative Party unexpectedly lost the majority in Thursday’s U.K. election. This makes Brexit negotiations with the EU more difficult, leading to new complications in […]

Profitable Trading Day For Sterling Bears

June 9, 2017 in /by

Dear Traders, What a trading day – at least for sterling traders that sold pounds on the initial exit polls. Before we start to explain the reason for sterling’s knee-jerk decline let us allow to be enthusiastic about our short trade which has hit the profit target of 140 pips within less than one minute […]

Euro And Pound Resume Uptrend

June 6, 2017 in /by

Dear Traders, The British pound traded higher against the greenback in the run-up to Thursday’s U.K. election. A recent poll has suggested that Theresa May’s Conservatives may still maintain a lead over the Labour Party. The GBP/USD broke significantly above 1.29 and headed towards 1.2950. We expect a next resistance to come in between 1.2985 […]

British Pound Virtually Unchanged Ahead Of U.K. Election

June 5, 2017 in /by

Dear Traders, The British pound gapped slightly lower after the latest terror incident in London, in which seven people were killed and 48 were injured. The attack comes just days before the June 8 general U.K. election which is considered a big event for sterling traders. The latest polls indicate the Conservatives’ lead over Labour […]

All Eyes On NFP Data

June 2, 2017 in /by

Dear Traders, It is U.S. jobs day and the May Nonfarm Payrolls report is considered the top event risk this week as it could generate big swings for the U.S. dollar. The greenback’s performance was only modestly affected by yesterday’s solid ADP report and a strong ISM manufacturing report, so traders hope for more profitable […]

British Pound Reacts With High Volatility To Opinion Polls

May 31, 2017 in /by

Dear Traders, The pound sterling is reacting with high volatility to fresh opinion polls ahead of the June 8 U.K. general election. After rallying towards 1.29, the pound dropped sharply as a poll showed Theresa May’s Conservative Party may miss a majority. With sterling’s direction being determined by opinion polls, the technical outlook currently seems […]

Euro And Cable Fall In Thin Trading

May 30, 2017 in /by

Dear Traders, Trading was quiet on Monday with the euro and cable trading within tight trading ranges. Only at the end of the trading day, prices gathered momentum. The euro fell in thin trading below 1.1160 and headed towards 1.11. The cable dipped slightly below 1.28 but was able to hold above that support level. […]

Pound Slides On Narrowing U.K. Polls

May 26, 2017 in /by

Dear Traders, The British pound came under increased selling pressure this morning after a poll showed U.K. Prime Minster Theresa May is losing ground ahead of next month’s election. Recently, the gap between Conservatives and Labour has narrowed, putting May’s Conservatives on 43 percent with Labour on 38 percent. The U.K. general election is scheduled […]

Euro And Cable Remain Above Crucial Support Levels

May 25, 2017 in /by

Dear Traders, The FOMC minutes failed to provide fresh hawkish evidence dollar bulls had hoped for and at the end of the trading day, there was nothing to gain. While the minutes confirmed the likelihood of a June rate hike, they have been casting doubts over the future trajectory for rate increases. Fed policy makers […]