Good short position in terms of risk and reward
We still have to remember that the down movement started not because of Scotland, but because we are expecting that the interest rate in US will rise sooner than in UK, of course Scotland brought more risk for the GBP, and we had to much emotions in the market, therefore there is a possibility to go higher but we are already on the half way of this up movement. In addition we reached the 0.382 Fib Level, and it seems to be a very solid resistence.
Finally , my position is short (accepting the probability that we could go higher but for sure not higher than 1.643) with a stop loss at 1.64400 and the tp at 1.57750
Also week data that came over the weekend from China and the week Trade balance of EU will help the Dollar index and as a consequence we will find this also in other markets..like GBP.
Finally , my position is short (accepting the probability that we could go higher but for sure not higher than 1.643) with a stop loss at 1.64400 and the tp at 1.57750
Also week data that came over the weekend from China and the week Trade balance of EU will help the Dollar index and as a consequence we will find this also in other markets..like GBP.
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