Clive Lambert from FutruesTechs sees the dollar’s current weakness as an opportunity to short GBPUSD. The dollar index hit a one week low of 97.282 on Thursday after disappointing US economic data. Investors will be focused on the US consumer inflation report due out later on Friday, which could suggest a delay in the Fed’s ability to raise rates if this trend of weak economic data continues. Reflecting this weakness back onto GBPUSD, Clive has noted a “problematic” resistance area around the 1.4950-1.5000 level and he aims to sell below 1.4950 with a stop placed above 1.5015. Clive’s three targets for the trade are: 1.4880, 1.4820, and 1.4720.

Join the conversation below to be a part of the social trading experience.

Non-independent investment research disclaimer

Full disclaimer