The Pound might turn much higher after the NFP number today and we prepare for a BUY. If the market would break out of the current sideways channel the upside might be tremendous and we like to prepare to buy the market. Our buy stop sits at 1.2485 with SL at 1.2240 and TP at 1.2730
With a negative reading in the NFP number today we will also likely see increased volatility around the Greenback. As the Coronavirus – employment numbers are still the number one headline markets expect the reading to be very negative. Though a “too negative reading” could also boost the USD as the safe-haven currency of choice.
