July 19, 2018 08:32:00: Pound-Dollar trading strategy [From Mr. Tetsu Emori’s newsletter]
From the investment e-newsletter Real Trading Strategy by Tetsu Emori, provided by GogoJungle, here is a small excerpt from this morning’s edition. This time, please take a look at the trading strategy for the pound-dollar, which at times reached a multi-month low of about 10 months.
We remain short on the pound-dollar. It has moved further down. It has also updated its recent low. Until it surpasses 1.3315, the trend seems weak. The long-term trend is around 1.3465, and if it does not exceed this, the underlying trend remains weak. The fair value is about 1.5280, so current levels are quite undervalued, but a quick rebound to that level is quite difficult under the present conditions.
From “Tetsu Emori’s Real Trading Strategy” (Tetsu Emori) quoted.
The BoE’s rate-hike stance and the EU withdrawal issue are expected to continue markedly influencing the pound. (Editorial staff)
Pound-dollar, hourly chart.
