GBPUSD
Feb. 11, 2016, 11:07
Buy on rebound from 1.4445 level with 1.4577 target. Stop loss = 1.4395.
Reason for the trading strategy
In December, the volume of industrial production in the UK fell by 1.1% (m/m) with a forecast of a 0.1% (m/m) decline. The news, which was worse than expected, led to a fixing of long positions in the pound. Furthermore, the continuing sell-offs in the global stock markets force investors to turn towards the defensive assets and towards the dollar, the yen, the euro and the franc as funding currencies.
GBPUSD, H1
Feb. 11, 2016, 11:07
Buy on rebound from 1.4445 level with 1.4577 target. Stop loss = 1.4395.
Reason for the trading strategy
In December, the volume of industrial production in the UK fell by 1.1% (m/m) with a forecast of a 0.1% (m/m) decline. The news, which was worse than expected, led to a fixing of long positions in the pound. Furthermore, the continuing sell-offs in the global stock markets force investors to turn towards the defensive assets and towards the dollar, the yen, the euro and the franc as funding currencies.
GBPUSD, H1
The pound slips to the 1.4445 level
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