After NFP plan, bullish bias for GBP
Entry - 1.2600
SL - 1.2528
TP - 1.12741
If the NFP is below or equal to 120k and Ave. Hourly Earnings is below or equal to 5.4% (in other words, both negative US data), the trading plan is valid.
if the NFP is above 164k and Ave. Hourly Earnings is above or equal to 5.5% (in other words, both positive US data), the trading plan is invalid. I will look for bearish opportunity.
if the NFP is below or equal to 120k but Ave. Hourly Earnings is above or equal to 5.5% (in other words, mixed US data), the trading plan is still valid. For as long as Ave. Hourly Earning is positive, this favors USD.
if the NFP is above or equal to 164k but Ave. Hourly Earnings is below or equal to 5.4% (in other words, mixed US data), the trading plan is invalid. I will look for bearish opportunity. For as long as Ave. Hourly Earning is negative, this is against USD.
SL - 1.2528
TP - 1.12741
If the NFP is below or equal to 120k and Ave. Hourly Earnings is below or equal to 5.4% (in other words, both negative US data), the trading plan is valid.
if the NFP is above 164k and Ave. Hourly Earnings is above or equal to 5.5% (in other words, both positive US data), the trading plan is invalid. I will look for bearish opportunity.
if the NFP is below or equal to 120k but Ave. Hourly Earnings is above or equal to 5.5% (in other words, mixed US data), the trading plan is still valid. For as long as Ave. Hourly Earning is positive, this favors USD.
if the NFP is above or equal to 164k but Ave. Hourly Earnings is below or equal to 5.4% (in other words, mixed US data), the trading plan is invalid. I will look for bearish opportunity. For as long as Ave. Hourly Earning is negative, this is against USD.