GBPUSD has bounced reaching 1.5380 zone mostly unaffected by dovish FOMC minutes. BOE showed no surprises as most expectations hit their targets except for trade balance today which came a bit worse then expected. The most important decision- interest rates are still 0.50 % and QE levels are 375B GBP.
Having a bad trade balance result and possible profit taking is not that bad for us – traders as we could buy into dips. POC comes in 1.5240-60 zone ( 78.6, Historical breakout/buyers) and that also marks U shaped bottom which should be targeting 1.5450 zone.
Have in mind that the ascending scallop pattern has started a breakout rally in POC zone so we might expect buying if the price reaches POC zone
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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