GBP/USD has been falling over the past few days, to the point I almost was able to close the GBP/USD grid. Unfortunately at the last minute, things did a u-turn and the GBP went up against the dollar again. The dollar had tanked after less than ideal labour statistics were published.
While it was a bit regrettable that I was unable to close my GBP grid, the grid yielded good results this week. I managed to close 10 trades, earning myself 40 USD. I have also started experimenting on slightly increasing my risk level for the XAU. Overall, I earned 69.96 USD for the week.
The GBP grid is still running, but I expect it to close soon. The GBP is weakening, and news has not shown a strong side of the UK economy. Even against the weak dollar, the pound has not seen much gains against the USD.
Welfare pack for this week:
Download this week’s CFTC Commitment of Traders (big monies) analysis here.
Read more on what is the CFTC Commitment of Traders report.
Do note that the financial markets are volatile and unpredictable. The above report is only another set of tools to help with our analysis, and by no means is a 100% indicator as to what will follow. It should be used together with other necessary research which a trader or investor should do.
