I am a very fundamental trader. Sure I draw lines on charts but the drivers are often the news, EUR and USD are all showing fair to middling news whereas GBP has been above target consistently. I feel like, reading other blogs, everyone is waiting for a large up move from GBP over the next few weeks, fuelled by Mark Carney’s BOE strategies.
Our daily GBPUSD chart shows the gentle up move that we’ve been having from GBP, note yesterday even Ben’s FED speech had little impact on GBP.
Buying GBPUSD selling EURGBP. I feel it’s going to make a break any time soon.