I hope TA will not be wrong, but FA shows some signals for indecision.
Fundamental next week focus on BOE meeting on Wednesday ,Retail Sales on Thursday, and UK GDP on Friday, don't forget US CPI on Wednesday.
Last week, we saw UK CPI dropped to 1.5% from 1.9%. is going down shows that UK economy is losing momentum. Definitely, next BOE Meeting on Wednesday, they will keep neutral stance and the first rate hike is unknowable.Because of decline of CPI , I think UK Retail Sales is very difficult to maintain uptick. While I think UK GDP will not change and keep at 3.0%, so economic data seem less support for Cable next week.
Shift focus to USD, with sharp decline of Oil price, and the energy price fell agressively recent months absolutely would cause a pause for . I think US CPI on Wednesday at least is unchanged even negative.
In short, to choose a trend for GBPUSD next week, I choose uptrend.
Pay attention on chart, you see the I show on the chart, any break the will drag GBPUSD higher, and indicator, broke the , would move higher ?. show positive for Cable. I hope it will support for Cable.
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