GBPUSD, Don't put your hand under the falling knife
Sterling falling towards brexit lows. Immediate support is at 1.2080, a weak one. If PM Theresa May generates more uncertainty prior to triggering article 50 officially. Sterling may go further lower.
US$ will capitalize further in the wake of rate hike bets next week. A steady job market If produces even a moderate NFP report on friday, It will cement the case for a march rate hike.
Dollar bulls would love to pair US$ against the weakest counterpart. Sterling is weakest currencies among the majors in current market conditions and Kiwi (NZD) may take the second stage.
Buying sterling in such conditions is insanity.
Your capital is at RISK,
Trade with care....
US$ will capitalize further in the wake of rate hike bets next week. A steady job market If produces even a moderate NFP report on friday, It will cement the case for a march rate hike.
Dollar bulls would love to pair US$ against the weakest counterpart. Sterling is weakest currencies among the majors in current market conditions and Kiwi (NZD) may take the second stage.
Buying sterling in such conditions is insanity.
Your capital is at RISK,
Trade with care....