It’s been a while since my last post, but, I am back, fully trading and hopefully will share trading ideas and perspectives.
I’ll start slow and steady, for the next several trading days I’ll focus on a few pairs.
Here is my perspective for the GBPUSD
The charts point to a weakening Pound. In the Asian open, the pair is trading below the daily pivot (the blue line), which is likely to hold.
The anticipation of a positive ADP Non-Farm Employment Change and ISM Non-Manufacturing PMI later in the day should easily strengthen the USD within the London trading hours.
If that holds, then we should expect price to move down by at least 100 points into 1.25030.
Any reversal should be expected at the major highlighted support levels, shooting prices to the north of 1.26314
My trades are locked in, I will hopefully share the results at the end of the trading day. You can as well view it on the sidebar – Live trading.