Trading Plan – Monday 20th February 2023: Trading a weak GBP pays off
Last week was dominated by the US CPI miss and strong Retail Sales in the US, strengthening the hand of the Fed and their stated desire for more hikes and a higher rate for longer.
I traded the same idea twice: a weak GBP, via GBPUSD short and EURGBP long. Both trades closed with a decent profit. I will have brief two-minute videos of each trade for you on Friday.
This week starts with a US holiday, so today will probably be quiet. Wednesday sees the release of the FOMC meeting minutes, which always attracts attention. US GDP follows on Thursday.
I am focused on a weak GBP. As always, I go through this and other trading themes for the week in the video.
I will be back tomorrow.
VIP Club members can see today’s video, all brief trading videos, the Monthly and YTD Performance videos, the Trading Video Course and download the MTM Indicators software HERE