There is a number of important pieces of trading news one is Non Farm Payrolls. This can Hammer EURUSD and GBPUSD pushing them low. My feelings is that it will do exactly that, in fact GBPUSD may fall with inflation expectations as it is.
So I predict that today we will see GBPUSD and EURUSD fall below yesterdays start, and maybe lower despite efforts by BOE and ECB to boost them.
Incidentally for the last 3 months reported Unemployment from Non-Farm Payrolls has dropped. Coupled with the increased optimism and value of the USD (against the JPY it is at a 20 year high). I really am looking to go short on GBPUSD/EURUSD later. We shall see.
And here’s what happened: –
Yes, I was selling.