Big Trade – GBP/USD 02.02.2016 +60

CLOSE GBPUSD here at 1.4430 +60 on trade

New GBP/USD Big Trade Orders

Buy GBP/USD at 1.4370 (at market)

Stop 1.4170

There’s been a significant amount of positive headlines in relation to Brexit. It seems that the EU and Britain are coming to agreeable terms to avoid an exit which would remove one of the greatest risks facing sterling this year. Short speculative positions are also at very high levels, exposing the currency pair to the risk of a short squeeze ahead of Thursday’s BoE rate decision. UK PMIs are scheduled for release tomorrow and we believe that stronger manufacturing activity and a rise in the GfK consumer confidence favors a stronger release that could support our trade

Swing

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