GBPUSD - Could turn out to be the trade of Q3
Bullish Sterling... something Carney might not want to have. But having said no to more QE, the Bulls are back in power. This trade is in continuation to my previous analysis on GBPUSD, which pointed to a Bull run (despite when price hit 1.48 something). This analysis makes use of 'Measured Moves' and Pitchfork.
Either, Bernanke will ensure the Greenback takes over the reigns or perhaps a string of weak economic data could give the much needed push down to the Sterling.
Whatever the methods, its quite clear that 1.558/1.56 IS likely going to be the top.
Either, Bernanke will ensure the Greenback takes over the reigns or perhaps a string of weak economic data could give the much needed push down to the Sterling.
Whatever the methods, its quite clear that 1.558/1.56 IS likely going to be the top.