Hello traders and great to be back with you today Thursday as we approach the end of our trading week. Some quick notes before we look at the trade plan. The Brexit blast is cooling off and we are settling into some normal trading and trend. The markets across the globe are rebounding for the last two days as we see gold above 1300.00$ and the price of oil is just about to touch the 50.00$ P/B again. Traders we do have plenty of data in the London and U.S. session that could make for some good price action.
OK let us take a look at the GBPUSD as yesterday this pair had an up day and was at resistance at the start of the Asia session. We are now just 2 hours before the London open and we are below the daily pivot and the 55 EMA and looks really nice for a short entry just at the open. I would like to enter this trade at the price of 1.3389. We have than a wide open space to get to our take profit zone at the price of 1.3163. This trade look very nice and I will watch very close for the entry.
Thank you traders and we will talk soon…….William