FxWirePro’s long-term GBP/USD call continue to remain profitable and we would like to urge readers to maintain short positions though we expect the pair to move into consolidation.
- In Late January, in an article named, “FxWirePro: Sell pound targeting 1.376 against dollar”, available at https://www.econotimes.com/FxWirePro-Sell-pound-targeting-1376-against-dollar-1122287, we urged our readers to go short on the pound at the then current rate of 1.413 and at rallies around 1.42 against the USD targeting 1.376.
- In a subsequent review, https://www.econotimes.com/FxWirePro-Call-Review-GBP-USD-target-reached-at-1376-new-target-1354-1177319 , we extended that target to 1.354
- And, later, https://www.econotimes.com/FxWirePro-Call-Review-Maintain-short-positions-in-GBP-USD-target-revised-lower-1315235 we have confirmed the 1.3 area as our next target and, only to revise it lower to 1.25 area in the next review here, https://www.econotimes.com/FxWirePro-Call-Review-GBP-USD-target-revised-lower-to-125-area-1336050
- And in our latest review, we have extended the target to 1.17 for the pair, https://www.econotimes.com/FxWirePro-Call-Review-Pound-nears-target-short-side-target-further-extended-to-117-against-USD-1415812
Our latest calculations suggest that as the dollar sags on President Trump’s verbal assault on the rate hikes by the U.S. Federal Reserve, the pair would move to a consolidation phase before it declines further. We expect the 1.3 area to act as a strong resistance and would present an opportunity to enter fresh short positions.
