Pound may retrace back a bit for a small level of pull back, but I expect it not for long, not even able to pass 1.383 (Although I set my SL at 1.387.
I am still in a pound bullish mind, and that makes things a bit difficult to accept (hence last week's huge loss). I think in short term we should accept the fact that pound now need to compromise and face the dollar strength for at least a few weeks. UK is also facing some troubles in both politics and economic growth aspects, so it's going to be tough for it to reverse at least for now (you never know though). So in short term, I'm looking to short pound. I hope 1.37 won't come, but for now it seems to be the way to go.
I am still in a pound bullish mind, and that makes things a bit difficult to accept (hence last week's huge loss). I think in short term we should accept the fact that pound now need to compromise and face the dollar strength for at least a few weeks. UK is also facing some troubles in both politics and economic growth aspects, so it's going to be tough for it to reverse at least for now (you never know though). So in short term, I'm looking to short pound. I hope 1.37 won't come, but for now it seems to be the way to go.
