Traders,
The Pound is still in focus. During the London session, the GU tested 1.31 highs, however it retraced very quickly. We saw some bond purchasing, and potential easing - however, as expected, the markets quickly pushed back. The most noteable pair ahead of the RBNZ will be the GBPNZD. It has now reached DS2 and we would think fresh buying would come in at these levels. We should see resistance at 1.8200. We took some long positions in the EURGBP and went short the GBPNZD and GBPAUD crosses. We will look to add more to these.
Regards,
The FXF Team
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Twitter.com/FuseTrader
Risk Disclaimer: All performance metrics are shown for demonstration purposes only. Past results are not indicative of future results. These statistics are subject to change upon being updated on a timely basis. Any information contained herein is for market commentary only, and does not constitute investment advice. Trading carries a high level of risk, and can result in substantial loss. Please consult with a registered advisor for further consultations. Thank you for stopping by our thread.
The Pound is still in focus. During the London session, the GU tested 1.31 highs, however it retraced very quickly. We saw some bond purchasing, and potential easing - however, as expected, the markets quickly pushed back. The most noteable pair ahead of the RBNZ will be the GBPNZD. It has now reached DS2 and we would think fresh buying would come in at these levels. We should see resistance at 1.8200. We took some long positions in the EURGBP and went short the GBPNZD and GBPAUD crosses. We will look to add more to these.
Regards,
The FXF Team
Request MyFxBook links.
Twitter.com/FuseTrader
Risk Disclaimer: All performance metrics are shown for demonstration purposes only. Past results are not indicative of future results. These statistics are subject to change upon being updated on a timely basis. Any information contained herein is for market commentary only, and does not constitute investment advice. Trading carries a high level of risk, and can result in substantial loss. Please consult with a registered advisor for further consultations. Thank you for stopping by our thread.