GBPUSD making its mind up still after US data and China’s trade response

Another rollercoaster ride albeit in tighter range 6 April

Softer US jobs , stronger wages data has seen USD see-saw lower and higher with China’s non-conciliatory tones on trade being thrown into the heady mix.

GBPUSD broke up through the 1.4030 pivot area I had highlighted to good effect since yesterday but then USD demand returned on the better wages detail in the jobs report. Add some GBPJPY supply on the risk sentiment wobble due to the Chinese comments and we’ve been back down to the 1.4011 area that Greg has been highlighting only to bounce back above 1.4030 as I type.

More sell interest/res at 1.4050 and 1.4080 should help cap rallies for the moment as we continue to trade in fragile mode. Demand 1.4000 and larger around 1.3980 still


I always warn to
have your entry/exit levels ready into any major data/event risk and today was no exception. I hope the strategy worked for you.
Heads-up that Carney is speaking at an international climate conference later with text to be published at 15.00 GMT here. Mon pol comments might crop up in any subsequent Q&A

I’m out of here now so I’ll wish you good trading and a great week-end.


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