UPDATE:
UK GDP will not be released today. Probably it will be released next week.
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Hi there
This is Crazy Cat writing.
On Wednesday, June 30th (04:30 am New York Time) UK we will have UK GDP q/q coming out. It is expected to read 0.3. Last time it read 0.3 as well.
This is the third release so it is not as so important as it was the first number. In fact, it is quite unreliable, and only the first reading (which was two months ago or will be next month) is worthy to trade with confidence.
The trigger for this indicator is 0.3. This means that if UK GDP q/q comes out at 0.6 or higher, GBP/USD will probably go up by 40 pips or more in the first 45 minutes of the report. If it comes out at 0.0 or negative, GBP/USD will probably go down by 40 pips or more in the first 45 minutes of the report. It is highly unlikely we would have such a big deviation.
Obviously, the bigger the difference between expected and actual numbers, the bigger will be the move.
To read the after-spike strategy for trading this report, go here: https://www.forexpeacearmy.com/forex-forum/felix-after-spike-retracement-strategies/
In addition to the UK GDP q/q we will have UK GDP y/y coming out. If they conflict, I recommend skipping the trade, but since m/m is part of y/y number, and our trigger is quite large, the conflict should not happen too often.
I highly recommend you study the entire history and charts of this report by following this link: Forex News Trading | Details and History for GBP GDP q/q
I hope you make some money on this report but don't count on it.
-Crazy Cat
UK GDP will not be released today. Probably it will be released next week.
----
Hi there
This is Crazy Cat writing.
On Wednesday, June 30th (04:30 am New York Time) UK we will have UK GDP q/q coming out. It is expected to read 0.3. Last time it read 0.3 as well.
This is the third release so it is not as so important as it was the first number. In fact, it is quite unreliable, and only the first reading (which was two months ago or will be next month) is worthy to trade with confidence.
The trigger for this indicator is 0.3. This means that if UK GDP q/q comes out at 0.6 or higher, GBP/USD will probably go up by 40 pips or more in the first 45 minutes of the report. If it comes out at 0.0 or negative, GBP/USD will probably go down by 40 pips or more in the first 45 minutes of the report. It is highly unlikely we would have such a big deviation.
Obviously, the bigger the difference between expected and actual numbers, the bigger will be the move.
To read the after-spike strategy for trading this report, go here: https://www.forexpeacearmy.com/forex-forum/felix-after-spike-retracement-strategies/
In addition to the UK GDP q/q we will have UK GDP y/y coming out. If they conflict, I recommend skipping the trade, but since m/m is part of y/y number, and our trigger is quite large, the conflict should not happen too often.
I highly recommend you study the entire history and charts of this report by following this link: Forex News Trading | Details and History for GBP GDP q/q
I hope you make some money on this report but don't count on it.
-Crazy Cat
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