North America moved the clocks forward an hour last weekend. The U.S. session overlap with London is 5 hours instead of 4 hours until next weekend, when both the U.K. and Europe move the clocks ahead an hour.
Trading has been slower this week for me with so much emphasis on FOMC Chairman Powell’s speech on Wednesday. The immediate market reaction to Mr. Powell was to sell the USD. On Thursday, the USD rebounded and today it was strong.
A short setup occurred in the GBPUSD requiring a stop loss of 15 pips for a potential 47 pips to our daily target at 1.3846.
Price moved down through yesterday’s low, its Asian session low and to our target where we exited the trade. The pair found its low for the day with long lower wicks appearing then began to move higher.
I like Fridays for finding trades.
Good luck with your trading, stay healthy and enjoy your weekend!
