Why is GBP Bid?
In my many years of trading, it is rare that I cannot come up with a rational explanation for a move in the forex market.This is the case with the GBP, specifically vs. the EUR where there is a clear imbalance of flows in the market driving EURGBP lower.I can come up with some factors behind the trend (down 8 weeks in a row). However, there did not seem to be a clear catalyst to explain GBP strength on Friday where EURGBP extended its move to a new low for the year (and a test of a key level, marginally broken) as shown in the following weekly chart, courtesy of The Amazing Trader (which by the way works in all time frames and any pair your broker offers on its MT4 platform).So why is the GBP bid?I can list a set of factors offeri
In my many years of trading, it is rare that I cannot come up with a rational explanation for a move in the forex market.This is the case with the GBP, specifically vs. the EUR where there is a clear imbalance of flows in the market driving EURGBP lower.I can come up with some factors behind the trend (down 8 weeks in a row). However, there did not seem to be a clear catalyst to explain GBP strength on Friday where EURGBP extended its move to a new low for the year (and a test of a key level, marginally broken) as shown in the following weekly chart, courtesy of The Amazing Trader (which by the way works in all time frames and any pair your broker offers on its MT4 platform).So why is the GBP bid?I can list a set of factors offeri
