How AI prompting turned writerly description into an everyday skill 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Goldman Sachs: US Dollar Likely to Stay Strong Despite Oil Price Retreat 
Today’s space race could turn fatal if we don’t agree on new rules 
AI Memory Boom Sparks Global Chip Supply Crunch 
With Iran and the US signing a peace deal, where does that leave Benjamin Netanyahu? 
Gold Surges Above Key EMAs, Bulls Eye Resistance Amidst Bullish Momentum 
Gold's 365-Day EMA Streak Since Oct 2023 Faces Its First Real Test at $3,980 — Break or Bounce to $4,140? 
Trump’s Iran Strategy: What Has Been Achieved After Three Months of Conflict? 
SpaceX Stock Gets $175 Target as Analysts See Massive Growth Ahead 
Silver Cracks Key 365-Day EMA for First Time Since Feb 2024; Bears Eye $50 on Rallies 
Pound has risen a lot after Employment report especially surprised to the upside this week, which was followed by hawkish comments from Bank of England's (BOE), Monetary Policy Committee (MPC) in parliamentary hearings.
However, two key points to note are,
- According to BOE governor Mark Carney, as of now MPC is not considering rate hike, discussion full scale will begin at turn of the year. This means there are still 3-4 months' time, in which Pound can decline short term, even if fundamental buying sets in.
- According to MPC members, stronger pound is dampening inflation outlook and is a key consideration in policy decision.
On the other hand, Yen has gained considerable ground post FOMC and likely to gain further ground if risk aversion sets in from equity selloffs or weakness in China.
Trade idea -
- Sell Pound at current price (186.3) against Yen, with targets around 182.5 area and stop loss around 188.7 area.
- That's a good 3:5 risk reward ratio.
- Key support lies at 184 area, while 187.5 could pose interim resistance.
