GBP.USD

I have been monitoring this move for a while now. There is a possibility that we will try to test 1.30, as this psychological number is driving price further away.

I have included lag indicators to determine whether this long would have been invalid, however I have come together that 1.30 is still possible and is a safe approach. In terms of risk my newly risk management criteria sought an alleged 22% risk. I have moved my entry in case of high volume.

In terms of technicalities, price has proven that 1.30 cannot be met, the strong restrictions may indicate that GBP.USD is pegged which can drive prices as low as 1.25.

In terms of fundamentals, US rate hike is highly likely which gives the initiative for buyers of the dollar. With the Brexit deal around the corner, GBP will be upmost volatile. Indicating another downside to my approach.

Thanks.

TrendsAce