The GBPUSD oscillated in a tight range during the first half of the U.K. session. As it moved lower to its Asian session low early in the U.S. session overlap, an entry was taken risking 15 pips for a potential 107 pips to our daily target at 1.3270.
Price moved lower and managed to get through the 1.3250 area as we locked in profit while it moved lower into the European close. Price continued lower for one more candle before it retraced closing our trade. We also shorted the EURUSD and AUDUSD today.
On Friday traders will be watching the NFP release closely. Fed Powell on Wednesday soothed the markets by indicating a 25bp rate increase will (likely) be announced this month at the Fed meeting.
Any economic news currently can be offset by news coming out of the Ukraine with its implications. Trade cautiously and lock in your profits to avoid any losses.
Our thoughts are with the Ukrainian people as they endure the invasion of their country.
Good luck with your trading!
