In hindsight, we can say that FxWirePro has called shorts on GBP/USD at a good position.
- 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
With the call being 860 pips in the money, we would like to urge our readers to maintain short positions with occasional bookings around support levels with the next target being 1.25 against the USD for the pound.
The current political environment (political crisis between EU, Italy, & Spain) in Europe, weaker economic numbers from the UK (Q1 GDP growth 1.2 percent/ steadily declining since last year), a dovish-neutral stance of the Bank of England (BoE) will continue to favor our call.
HAPPY TRADING.
