Despite this being the first of four triple witching days of 2022, the volatility didn’t appear to be more than we have been experiencing lately.
After a steep sudden sell-off yesterday following the 25 bp interest rate increase in the U.K., the GBPUSD today moved higher in an attempt to recover from its move lower.
A long was taken risking 20 pips for a potential 82 pips to our daily target at 1.3212.
Price had two technical levels to get through and it did. After that it was up and away. We were able to remain trading today until the end of the U.K. session where the trade was closed.
Trading the AUDUSD this week has been profitable and is getting my attention more than the USDCAD. The market daily ranges are up, which makes trading more rewarding. North America and Europe/UK remain out of sync by an hour for another trading week.
Stay nimble and protect your profits.
Good luck with your trading and enjoy your weekend!
