Cable (GBPUSD) heading for 1.3800, FED rate Hike Priced In

I believe the FED rate cuts are largely being priced in. We are now moving to that liquidity event level that was as a result of Russian sanctions and some liquidity being sucked out of the system. I expect Cable to move up to the 1.3800 level first and then possibly 1.4000.

1. You can see the Volume come in after the FED cut. That's some of the earlier longs liquidating on the higher volume trading those events.

2. You can see from the volume that the trade started from October last year and picked additional pace in April this year. So if you are trading the upside now you missed out on most of the earlier move.

3. The key now is to wait for sellers or develop a bullish bias in intraday traders if you are a day trader. You can follow more of my thoughts as a 15 year trading veteran in London