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GBPUSD Reversal Could Accelerate or Break on Event Risk

GBPUSD Reversal Could Accelerate or Break on Event Risk

2013-08-13 02:04:00
John Kicklighter, Chief Strategist
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The US Dollar has broken its longest string of losses in 18 months, which has in turn supported a clean technical reversal for GBPUSD. However, the rebound for the greenback doesn't carry much fundamental momentum via Taper speculation or risk-based trends. Without an underlying current to leverage momentum, those trading both the dollar and yen-backed crosses must maintain reasonable objectives and a sensitivity to false breakouts. It is in these conditions, in fact, that event risk-drive volatility is of greater concern. That puts the cable and the other pound pairings in stark relief for short-term, event risk traders. We discuss current trading conditions, top event risk and the key trade setups in today's video.

Find out what event risk can threaten the trade setups talked about in today's video with the DailyFX Economic Calendar.

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