Forex forecast: GBP/USD bearish target at 1.45, Markets trading differently

In today’s Forex Forecast, Steven Woodcock, Senior FX Analyst at Plutus FX, offers his outlook on GBP/USD, and further shares his strategy to trade the flat formation in the charts. Markets awaiting more guidance Woodcock notes that the no actual guidance was given yesterday by Yellen’s and markets await some concrete guidance. On trading, he comments how the previous Fibonacci trade has changed and markets have evolved to a different trade, largely due to retail players, with more emphasis on ‘numbers’ rather than ‘areas’. He further adds that markets are playing the range game at the moment. GBP/USD: Looking for further weakness Woodcock says how he maintained a sell call last week on cable, and he remains on the bearish camp for the cross. On the downside he maintains a downside target at 1.45, with the pair now trading at the lower end of its range and waiting for a break lower. Rastani maintains a long bias on EUR/GBP, with the cross having broken out of a flag pattern yesterday. On this, Woodcock explains his strategy to trade the flag pattern breaks – Watch the video for further insights. Tip TV Finance is a live video show, broadcasted weekdays from 10 am sharp. Based in St Paul's, in the heart of the City of London, Tip TV prides itself on being able to attract the very best quality guests on the show to offer viewers informed, insightful and actionable infotainment. The Tip TV Daily Finance Show covers all asset classes ranging from currencies (forex), equities, bonds, commodities, futures and options. Guests share their high conviction market opportunities, covering fundamental, technical, inter-market and quantitative analysis, with the aim of demystifying financial markets for viewers at home. See More At: www.tiptv.co.uk Twitter: @OfficialTipTV Facebook: https://www.facebook.com/officialtiptv

Comments

1. ratan is awesome. I love this channe5