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This look on paper a great set up to the short side. I have the following thoughts to add:
- 1. GBP is just the expert currency for false breakouts and breakdowns.
- 2 if this trader triggers to USD/CAD is going to around 1.3000
- 4. Cable will trading at 1.4500
- 4. The GBP/JPY will be trading around 170.00
There are huge implplications surrounding this set-up
I do not think that unless the GBP/CAD significantly breaks tower and closes the first day below 2.0000, that i would take this trade for the reasons
mentioned above.
There are 1.000 pips on offer to miss 100 is neither here or there in my opinion.
Keep this on your RADAR..i will not do anything until after NFP no matter what may happen between now and the data dump.
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