Profitable Trading Day For Sterling Bears
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
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
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
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
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
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. […]
