Fundamentals
GBP:
Bearish
Brexit uncertainty: Chances of a no-deal Brexit (which is in my opinion highly unlikely because it would not be beneficial for the EU as well as the UK).
GBP weakness throughout the whole year so far.
Saunders opening up to the possibility for a rate cut by the BOE.
USD:
Bullish
Strong dollar throughout the year so far.
Good economic data coming out of the US on a regular basis.
High interest rates even though they just had an interest rate cut of 0.25% (and Trump not being too fond upon such a strong dollar).
Technicals:
Looking for a retest at the daily/weekly resistance level at around 1.2500 - 12550 where I will enter my short position (will also correlate with a downward sloping trend line touch).
Take profit level: 1.22000
GBP:
Bearish
Brexit uncertainty: Chances of a no-deal Brexit (which is in my opinion highly unlikely because it would not be beneficial for the EU as well as the UK).
GBP weakness throughout the whole year so far.
Saunders opening up to the possibility for a rate cut by the BOE.
USD:
Bullish
Strong dollar throughout the year so far.
Good economic data coming out of the US on a regular basis.
High interest rates even though they just had an interest rate cut of 0.25% (and Trump not being too fond upon such a strong dollar).
Technicals:
Looking for a retest at the daily/weekly resistance level at around 1.2500 - 12550 where I will enter my short position (will also correlate with a downward sloping trend line touch).
Take profit level: 1.22000