workingtraders

$GBPUSD - Daily trend line contains any further push higher

FX:GBPUSD   BRITISH POUND / U.S. DOLLAR
219 5 10
Strong Resistance ahead from the daily trend line .

Inflation hit a record low - it came out at zero!
Bank’s chief economist, Andy Haldane, said last week that in his view, policymakers could be underestimating the threat. As a result of inflation “dropping like a stone”, he said it could prove necessary for interest rates – already at an all-time low of 0.5% – to be cut further.

Carney stated fall in inflation with a rate cut would be “extremely foolish”.

Durable goods data tomorrow could finally return some broad USD strength back.

Retails sales data on Thursday . Changes in Retail Sales are widely followed as an indicator of consumer spending.

Good indicator in my mind to see how low inflation is helping the economy

No clear strong currency at the moment for me.
Last daily bar is interesting...data sure helps fuel my contrarian spirit.
Reply
Great, time to short this pair it seems.

snapshot


I'll publish my entry, once it confirms.
Thanks for sharing, brilliant analysis as usual.
+2 Reply
workingtraders IvanLabrie
Strong retail data. Consumer spending could be picking. Looking for Carney to set the tone tomorrow.
+2 Reply
IvanLabrie PRO workingtraders
Indeed, big day tomorrow...It's a waiting game now.
+2 Reply
Retails sales data on Thursday . Changes in Retail Sales are widely followed as an indicator of consumer spending.

Good indicator in my mind to see how low inflation is helping the economy
+2 Reply
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