Sforex
Short

Cable: Why doesn't it go down ?. UK CPI main focus

FX_IDC:GBPUSD   British Pound / U.S. Dollar
168 1 4
I really don't understand Why Cable doen't fall down despite of very dovish stance of BOE and weak UK data.

Many economists still belive in Cable and choose the upside no matter what Fundamental don't support for that view.

I still find a good reason to buy Cable, but....

Next week, the main focus regarding to British Pound is UK CPI             , and don't forget US CPI             and FOMC Minutes on Wednesday.

To choose a side, I still choose BEARISH SIDE.

- Technical Analysis

Look at on the chart, I see a asceding trend line: This is a strong trend line .

And GPBUSD still hold below the resistance 1.5675 ( or 1.5700)

Both form a wedge pattern which captures GBPUSD             in it.

I will continue watching Cable and the reaction of Cable around 1.5700 level:If Cable cann't break this level: You freely to SEL CABLE.
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