If Cloggie is saying that fundamental data has no baring on GBP/USD up trend but it has to do with net flows into commodities then how does he explain the sudden spike in GBP buying this morning? I don't think the Russia brought any cable today. However, news on current account, GDP q/q and positive CBI retail sales have lifted the cable.
Now we are moving toward 1.5900 and should the data be gloomy about USD part of the currency pair (mass selling) then I expect a lift of 100 pips.
The breach of 1.5900 is inevitable.
Now we are moving toward 1.5900 and should the data be gloomy about USD part of the currency pair (mass selling) then I expect a lift of 100 pips.
The breach of 1.5900 is inevitable.
Our beliefs are based on logic and the pursuit of clearity.