JohnKicklighter

A Strong GBPUSD Push but No Break...Yet

FX_IDC:GBPUSD   POUND STERLING / US DOLLAR
197 1 6
GBPUSD             surged after the UK statistics group reported a stronger-than-expected jump in core inflation. However, the critical follow through necessary to transition a short-term rally into a serious break - much less trend development - wasn't there. We've pushed the Cable's range, but resistance still in place. Now, what will happen with US CPI             and FOMC minutes coming up?
I'm conservatively bullish, long with a tight stop and small risk size, and long gbpaud via a pair trade.
I think it's possible to see some continuation into the 1.58+ range.
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