GBPUSD Cable offers intraday selling opportunity

19 באוג׳

Cable is one of the instruments that will provide an intraday trading opportunity at the beginning of the week.
Jackson Hole is starting.
The market is waiting for a rate cut signal from Powell.
Positions on the dollar side are "short-term selling pressure" by the possible interest rate cuts

However, the story on the pound side is not very nice either.

BoE is likely to continue cutting the rates, the latest data from England also supports BoE.
Cable has approached the 1.30 psychological resistance.
There are overbought signals in H4 and H1 charts.
Real Value also supports the negative divergence correction.
Even if it does not happen during London a correction may come with NY opening

Intraday shorts can be made after receiving entry confirmation in small timeframes.