October 18, 2018 08:27: Pound/Dollar trading strategy [from Mr. Tetsu Emori's newsletter]
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From the real trading strategy newsletter “Tetsu Emori’s Real Trading Strategy” by Tetsu Emori, provided by GogoJungle, here is a small excerpt from this morning’s dispatch. This time, please take a look at the trading strategy for the pound-dollar, which is fluctuating around 1.3095 dollars.
The pound-dollar will remain short. We will close long positions above 1.3140. The long-term trend is 1.3300. The fair value is around 1.5285, and the current level is quite undervalued.
From “Tetsu Emori’s Real Trading Strategy” (Tetsu Emori) excerpted.
Following the release of the Federal Open Market Committee (FOMC) minutes yesterday, dollar buying advanced further. Meanwhile, the pound declined. It seems Ambassador Barnier’s remarks regarding EU exit negotiations were interpreted unfavorably. (Editorial)
Pound-dollar, 1-hour chart.
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