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GBP/USD broke above 1.40 yesterday. The big figure level coincides with the topside of the 2017 - 2018 trading channel. That probably means some selling, but a (sharp) spike above the channel top is not off the table. U.S. jobs & wages report later or tomorrow's ECB decision could be a catalyst.
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First trade of the month seems like an obvious one
A happy new trading month to all!
I think that the first week of trading in the competition will be all about Euro selling
Draghi announced the intended rate cut this month
and the actual decision and the range and magnitude of the plans will be laid out this coming week
The Eur/Usd short trade seems like a no-brainer
The pair has put in a monthly bearish engulfing candle, technically
and has broken the 200 SMA to the downside
while the fundamentals support a larger move down, too
A break below …
I think that the first week of trading in the competition will be all about Euro selling
Draghi announced the intended rate cut this month
and the actual decision and the range and magnitude of the plans will be laid out this coming week
The Eur/Usd short trade seems like a no-brainer
The pair has put in a monthly bearish engulfing candle, technically
and has broken the 200 SMA to the downside
while the fundamentals support a larger move down, too
A break below …