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Foreign exchange seasonals: Cable, if you wish to go there

February is a foul month for the pound

The issue with seasonals is that they are a secondary indicator, at greatest. If all else is equal, they are often efficient. The issue is that each one else isn’t equal. There’s all the time one thing happening that overshadows the trickle of optimistic/damaging momentum from seasonal components.

Cable is a good instance. Over the previous 10 12 months February is the worst month for GBP/USD. It is fallen in three straight years and the weak spot extends all the best way again to 1999.

February is a bad month for the pound

The issue for me is that you would be able to’t take a seasonal commerce on cable. I could make a case for GBP longs primarily based on a optimistic Brexit final result and/or technicals however I do not wish to add seasonals into the combo as a result of they’ll be swamped by no matter occurs in parliament.

In any case, Feb is the worst month on the calendar for the pound so… now .

ForexLive


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