Although the Bank of England left rates on hold yesterday, the GBPUSD climbed higher. Choosing to fade that move today during the U.S. session overlap, a short was taken risking 16 pips for a potential 71 pips to our daily target. The idea was to ride it down through yesterday’s high and the Asian session low, on the way to our daily target at 1.3214. It wasn’t to be as price began to retest an important level on the 1 hr chart and our trade was closed for minimal gains.
The USD is weaker today and the continued trade tariff rhetoric is not helping it. Let’s hope for better trading opportunities next week.
Enjoy your weekend!
