Fading away bit
Apparently we have seen little bit pullback since pair post psychological numbers. 1.30. Resultantly we could see a bit pull back for near terms.
The trend is your friend!!!
However, we have strong believed that we won’t do trading by parting trends, so whats we went do either waiting for a substantial pullback or dotting some number in order for getting little chunk on daily basis.
Thus our strategy will have been the buying until completely market turns around.
Data to watch:
On GBP front, we have scheduled; FINANCIAL SERVICE PMI, which could drag the market towards up of 1.30 if found good numbers. whereas lesser than expected could give as short term buying opportunity.
Apart from that over the Atlantic (USA) we are gone scheduled –
Federal reserve governer Quarles to speak BEFORE the house financial service committee in Washington DC.
Along with Crude Oil inventory also gone unleased.
Notably, you may avoid to take any position or cut off your positions before these recent said two events.
Finally, we have in view by inculcating above said scenario to wait to buy from 1.29462 stop loss would deem appropriate at . 1.29202. whereas Target could be around. 1.30251. on the contrary break below 1.2946 might have opened the path of 1.2874 &1.2833