GBP is looking very overbought on the RSI and stochastic. CPI data will make or break a 50bp August rate hike by the Bank of England. Markets continue to lean on the hawkish side with their pricing: 44bp for August, 116bp in total. Still, peak rate expectations have remained volatile and were scaled back by nearly 15bp yesterday.
GBP/USD Short Entry 1HR
We have the crossover of the 20 and 50 EMA with a strong bearish candle pushing price lower.
GBP/USD Short 3M Time Horizon
Entry 1.30738
Stoploss 1.32400
Take Profit 1.24000
GBP/USD Short Entry 1HR
We have the crossover of the 20 and 50 EMA with a strong bearish candle pushing price lower.
Entry 1.30738
Stoploss 1.32400
Take Profit 1.24000
Trade active:
Sterling continues its move to the downside, as US data suggests rates to stay higher.
Trade active:
GBP/USD carrying on its move to the downside and looks to be breaking through the 4HR 200 EMA (green). After the slew of robust data showed the worlds largest economy is on a generally solid footing, raising expectations it my avoid recession Afterall despite the Federal Reserve's aggressive tightening over the last year and a half
Trade active:
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