My humble GBPUSD weekly trade idea

17 Eyl 2023

GBPUSD


Weekly COT COM trending downwards, meaning selling orders piling up while the NON COM is stacking buys. The trigger order to buy is not at the current level. We should see some more selling going on towards the fib extension 70 to 79 around 1.23663 to 1.24779 and then we could see a huge jump next week by Friday towards the 70 fib.

Note:
1. I predict US will hold rates - probability high
2. US Building permits reduction - medium probability
3. BOE will raise rates - probability high
4. UK Retail sales increase - medium

- will only enter once the excitement dies out during news to the level i aim
- Sept18 up to London Open Sept 19: observe the market during Asian, London and NY open High Lows, hoping it will go to last weeks lows
- entry day Sept 19
- get out by Sept 22