Buying Opportunities in GBP/USD - Wednesday, September 28, 2022. Target hit September 30, 2022

Sterling's fall after the tax cut announced on September 23 is still reverberating through the FX market. Today, the BoE announced bond buying again in a bid to stem the run on the British Pound. Technically, this fall is oversold and may be ripe for a technical rebound. As such, this may present a counter-trend buying opportunity.

 

TRADE IDEA

#1 Bought 0.05m @ 1.05768 (Sept 28, 17:05pm)

#2 Limit Buy 0.07m @ 1.04800 - Cancelled (Sept 28, 22:52pm)

All Stops @ 1.01950 - Moved to Break-Even (Sept 28, 22:53pm)

#1 Target @ 1.12240. Changed to 1.1100 (Sept 28, 22:54pm) Target hit (Sept 30, 00:15am)