Wednesday September 28, 2016 - 10:07:24 GMT
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Where Will the GBP Trade vs. the USD?
GBPUSD has traded within a 1.2800-1.35 range since the vote to Brexit on June 23. Most of the trading has been between 1.29-1.34, which seems like a tight range unless you are trading and see the daily chop within it. The past 8 trading days has seen it trade in a whiplash fashion on both sides of 1.30 after holding above it since August 17.
One reason for the choppy trading is that GBPUSD continues to be driven more by GBP crosses, especially EURGBP and EURJPY, than by the US dollar.
In this regard, I have written a report entitled, How to Use Crosses to Trade Spot FX, that you can get for free for just letting us know where you expect the GBPUSD to be trading by clicking below. It is an invaluable resource in today’s market and our show of appreciation giving us your opinion. .
Where will the GBP Trade vs the USD?
Feel free to contact me with any questions or comments.
Jay Meisler, co-founder
Forex Trading News
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