The USD has moved up four sessions in a row as the DXY attempts a close above 97.50.
The GBPUSD has moved lower this week particularly after the B.O.E. news yesterday. Brexit will continue to weigh on trader sentiment toward the pair through month end.
After the triple top early in the U.S. session overlap, a short was taken risking 24 pips for a potential 75 pips to our daily target at 1.2313. Price moved lower, made a slight retracement to our entry then continued lower. As price tested today’s earlier session low, it pushed lower and found buyers near the mid-figure area. The bounce upward closed our trade for an acceptable gain. The European close tends to be volatile so keeping a tight take profit is prudent.
Mondays tend to be a tricky day for trading. Keep an eye out for the latest reported new infections numbers as countries continue to re-open their economies.
Good luck with your trading and enjoy your weekend!
