During the London Session, GBP starts to weaken and it is also supported by the worse than expected construction PMI. Although, in general this news release does not move the market much, it is good that we are selling in the direction of the news.
The best currency to pair GBP with is JPY as it is one of the strongest currency. In fact , i was deciding between shorting GBPUSD or GBPJPY. My only concern is that USD might just be a retracement and continue to move downwards. With that said, if USDOLLAR manage to break range, i might also consider shorting GBPUSD as well.
The best currency to pair GBP with is JPY as it is one of the strongest currency. In fact , i was deciding between shorting GBPUSD or GBPJPY. My only concern is that USD might just be a retracement and continue to move downwards. With that said, if USDOLLAR manage to break range, i might also consider shorting GBPUSD as well.
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