GBP/USD – Opportunities To Buy – 5/3/2018

GBP/USD – Opportunities To Buy – 5/3/2018

Brexit fear drop provided great buying opportunity last year, and again once late comers will get wiped out, we will get opportunity to buy GBP/USD again from better levels.  You can find in previous posts that I have been buyer of GBP/USD from 1.20 and was prepared to get more if it would have dropped more based on simple understanding about how real world works.  Market lives in the realm of perception.  Occasionally it intersect with reality but that part hardly lasts.  Most of the time, market is either undershooting or overshooting.  So for British pound 1.45 is kinda too much to ask for given circumstances.  But again anything  near or below 1.30 will be interesting.

It requires little patience scaling in because BOE is not looking committed to hike and Fed is on full throttle.  Other interesting pair to buy the pound without much worry is EUR/GBP as I have mentioned previously.

GBPUSD_Weekly_Chart_April_3_2018

GBPUSD_Weekly_Chart_April_3_2018