One of our favorite pairs. This Pair spits out pips at a rapid pace. The trick to this pair is patience. This pair rewards the patient.
So what do we have this week?
Outlook: -Price @ 150 has been tested multiple times. -Possible Right shoulder formation. -Then look to short at the peak.
147.50 is target 145.00 Psychological
Fundamental:
-We have Manufacturing PMI, we are forecasted to be a little under than last release. We are expected to be under 55.3 and clock in under 55.1. If this happens then this will make an extra push south. On the other hand, If we clock in over 55.3 then the pound will continue to rise and retest 151.00.
- Lets continue to do our research to capitalize
either way, be safe, have a nice comfortable risk/reward and hold your trade!