Fundimentaly speaking I think that the USD is much stronger then the market is giving it credit for. Technicaly speaking it all depends on what indicators you are using, but for the most part I think the USD is gearing up to take back some of what it gave up over the last few months. Im looking for the GBP/USD to fall back down to 9200 area in the next week or so, if not lower. I do not see 9800 or even 9700 happening any time soon.
As for the current time frame: I think that the German Ifo Business Climate Index will come in worse then expected (1am pst / 4am est) which will drop the euro below the 1.3080 area (maybe 1.3050ish) and the GBP/USD will be dragged down with it to somewhere around 9480ish or lower and will close out the week below 9500. Next week I see this drop continuing and well see 9300 or lower by the end of next week.
Those of you who are long - I hope that I am wrong
Those of you who are short - I hope that I am right
Good Luck To Everyone!
This is only my own assessment and by no means should be used to make your own trades. Always trade with caution and ONLY trade what YOU see & believe!
As for the current time frame: I think that the German Ifo Business Climate Index will come in worse then expected (1am pst / 4am est) which will drop the euro below the 1.3080 area (maybe 1.3050ish) and the GBP/USD will be dragged down with it to somewhere around 9480ish or lower and will close out the week below 9500. Next week I see this drop continuing and well see 9300 or lower by the end of next week.
Those of you who are long - I hope that I am wrong
Those of you who are short - I hope that I am right
Good Luck To Everyone!
This is only my own assessment and by no means should be used to make your own trades. Always trade with caution and ONLY trade what YOU see & believe!