Good evening dynamic traders,
Now that last weeks NFP is behind us we can get back to normal trading again although we still have UK bank rate to contend with later this week.
The GBPUSD has provided gains on the long side over the last couple of months and is now in consolidation. Although forex is renown for it's big trends, trends occur based on certain factors such as how well the country is performing against it's counterparts or how many have been made unemployed this month or what the current interest rate is. Fundamentals has often played a big role in directing the price and this is usualy the case at times like now where the GBPUSD is waiting for some form of guidance. In the end the guidance will be provided by either the bulls or the bears but right now they are fighting amongst themselves with no real belief in their cause. That may change later this week where the price could perform a breakout for a continuation or reversal but it could always stay in it's comfort zone and bore us with some further consolidation above the value index.
The Dynamic Trader members who are not already in this position will know what needs to be done here and should act according to what Javid has shown on the forex webinars.
I was going to attach one or two screen shots of the GBPUSD but as it is moving sideways I thought instead I will put up a few photos from yesterdays day out at Wimbledon. We have more than 200 pictures from all three of yesterdays games but I took the first few of the bunch only so not to inundate this blog with tennis.
There were a few famous faces in and around the Royal Box.
Sue Barker interviews a few legends.
Warming up for the Women's final.
Hope you all have a profitable week.