Day 363: Pound gives in

Profit: $8.06 Total: $1,287.53

The GBP/USD revisited last May’s high of  1.46800’s. Draghi also took down the EUR/USD be restating that there are more stimulus to come if needed. Yellen spoke as well but didn’t make new news which didn’t affect the markets drastically. Dollar did eventually end on a rally by end of NY session.

I took this opportunity to short GBP/USD at resistance because there wasn’t any fundamental reasons behind this rally to break structure. With Brexit only 2 days away, markets will probably be very volatile and wild. The remain vote is up, however, the leave vote is still slowly catching up. This week will end on a very interesting note.

 

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