Sterling weakens against the US dollar pre NFPs

Orlando Gutierrez Learn 2 Trade

After yesterday's rally in the Pound due to the BOE's not talking about a negative rates scenario the Pound is coming back down from the 1.3180 zone.

This was however accompanied with somewhat distressing employment forecasts.

The USD is picking up big buyers from the lows and is about to break with the previous highs around the 93.00 level and unemplyment and avg. hourly earning forecasts are actually good.

We have a good risk to reward scenario on a high probability setup for a Pound pullback.

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Author

Orlando Gutierrez

Learn 2 Trade

Orlando has been involved in the financial markets for about 10 years. His focus is Global Macro and he is a strong believer that the best way to trade the currency markets is focusing on the big picture and holding on to big macro trends.

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