For the previous two weeks the GBP has been an outstanding performer against USD. Currently at time of writing the pair is at 1.5174. According to my assessment this would be a very good time for traders to start entering GBP shorts. With the British election coming next month and institutions shorting the cable at 1.5200, I expect this rally to fade away this week and expect the pound to end at a rate below 1.5000.
Best of luck trading.
The recent weeks have been highly volatile in the FX market but one pair in particular has felt the punches of a strong Dollar and that is none other than the Euro. EURUSD pair has been in a constant decline and does not seem to find a bottom. With the introduction of the ECB's trillion euro QE and high employment reports from the US, the euro fell to 1.0483.
With majority of traders eyeing the FED interest rate decision the market clearly is betting on a weaker euro.…