Low Risk Short Trade for Cable
Short GU with SL of 1.4675. On the Daily Chart RSI is over sold on Stoch RSI this suggests a possible downside but the USDollar weakening due to Yens strength, it might weaken further but Japanese Finance Minister has already commented on 30th of April saying Yens strength is extremely worrying.
I think traders see this as a caution and will now possibly start to long Yen or at least not continue shorting.
This week has Scottish elections as well as London Mayoral elections, keep an eye on that as well.
I think traders see this as a caution and will now possibly start to long Yen or at least not continue shorting.
This week has Scottish elections as well as London Mayoral elections, keep an eye on that as well.
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