Yet again the GBP Index has been much more fundamentally driven today, as the new PM arranges his cabinet. Thankfully this was more inline with our Dom long GBP pairs and very decent points were available at our usual times. The Dom short EURAUD did well also.
See our totals below for the UK morning session alone, with many additional opportunities and points available in the US morning (UK afternoon) and US afternoon (UK evening) sessions.
As expected, trading was made difficult today as our GBP was far more fundamentally driven with the change of PM and also statements from the BoE. This disrupted our Dom short GBP pairs as the pound strengthened, while the Dom long EURAUD gave some decent points on a poor ICS Balance. Points available but not easy.
See our totals below for the UK morning session alone, with many additional opportunities and points available in the US morning (UK afternoon) and US afternoon (UK evening) sessions.
Despite negative UK economic data today, the GBP is still being fundamentally driven with regards to the next Prime Minister. This has kept the initial strength we saw in the index at the UK open, giving us some decent trades in all our Dom long GBP pairs.
The Dom short EURAUD had a poor ICS Balance and this reflected in awkward trade entries and exits and would have been immediately dismissed at the onset. Not too bad a day!
See our totals below for the UK morning session alone, with many additional opportunities and points available in the US morning (UK afternoon) and US afternoon (UK evening) sessions.
The GBP continues to be influenced by fundamentals, making our technical analysis and trade entries / exits more difficult. ICS Balances reflected this also, with very little momentum anywhere.
The beauty however is we knew this before the start of the UK morning session and could chose to trade, or on to trade! Overall points were still fairly plentiful but in no way were easy.
We live to trade another day!
See our totals below for the UK morning session alone, with many additional opportunities and points available in the US morning (UK afternoon) and US afternoon (UK evening) sessions.
Like yesterday, the GBP was fundamentally (not technically) driven by continued political infighting. Today we had the added ‘thorn’ of UK economic data at 7am which drove the GBP further down, giving yet more fundamental moves.
Overall there were still some decent points available after the markets settled.
See our totals below for the UK morning session alone, with many additional opportunities and points available in the US morning (UK afternoon) and US afternoon (UK evening) sessions.
Political infighting saw a the GBP Index weaken from a ‘Strong Ish,’ through to a ‘Strong Minus’ to its current (and expected) Weak Ish. This made price movement within our GBP pairs far more fundamental than technical and harder to predict.
We still had some decent earlier points but entries and exits were fairly obscure. Understandably ICS Balances deteriorated throughout the morning but some decent points were still available at the start of the UK morning session.
See our totals below for the UK morning session alone, with many additional opportunities and points available in the US morning (UK afternoon) and US afternoon (UK evening) sessions.
