The main takeaway from Jerome Powell’s speech today was that the U.S. is currently not looking to have negative interest rates despite President Trump wanting them.
As price broke to the downside a short was taken in the GBPUSD risking 28 pips for a potential 84 pips to our daily target at 1.2207.
The level to break and stay below today is 1.2250. The trade was closed at the U.K. close and fell a bit short of our target.
Be careful not to be too biased in direction and take trading day by day and even session by session. I will continue to look for short setups in this pair but if the equity markets are strong and the DXY is not, then it’s unlikely we will find a short trade setup that will run.
Good luck with your trading and stay healthy!
