August 9, 2018 08:08: Pound/Dollar trade strategy [From Mr. Tetsu Emori's newsletter]

From the investment newsletter "Tetsu Emori's Real Trading Strategy" by Emori Tetsu, provided by GogoJungle, here is a small excerpt from this morning's issue. This time, please take a look at the trading strategy for the pound-dollar that has reached its lowest level in about a year.

We will maintain a short position on the pound-dollar. It has fallen to a new low. It is oversold and at a low level, but we will emphasize the trend. We will maintain the short position until it exceeds 1.2930 dollars. In the short term, the market is considered weak until it exceeds 1.3200 dollars. The long-term trend is 1.3400 dollars. The fair value is around 1.5210 dollars, and the current level is quite undervalued, but for now we will focus on the short-term trend.

Quotes from “Tetsu Emori's Real Trading Strategy” (Tetsu Emori).

There are growing concerns that the UK may exit the European Union (EU) without a deal (hard Brexit). Please be cautious of movements in currency pairs involving the pound. (Editorial team)

Pound-dollar, 1-hour chart.

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