If you are a medium term trader, this could be the best trade of 2015.
As per my previous ideas, GBPUSD ending diagonal looks like finished, and is ready for a big rally.
the worse than expected job data today failed to push GBP down, which only provided another dip buying opportunity.
IMO, today's job data is in fact a very good one:
- prior month 4.6k revised to 0.5k: change in unemployed people, so smaller figure is better. Negative means less people were unemployed.
- employment change 177k vs 120k expected.
- average weekly earnings rise by 3.0%, faster than the USA.
GBP showed strength to all other currencies since last friday's NFP and I bet this trend will continue in the near term.
As per my previous ideas, GBPUSD ending diagonal looks like finished, and is ready for a big rally.
the worse than expected job data today failed to push GBP down, which only provided another dip buying opportunity.
IMO, today's job data is in fact a very good one:
- prior month 4.6k revised to 0.5k: change in unemployed people, so smaller figure is better. Negative means less people were unemployed.
- employment change 177k vs 120k expected.
- average weekly earnings rise by 3.0%, faster than the USA.
GBP showed strength to all other currencies since last friday's NFP and I bet this trend will continue in the near term.
