Cable is pushing higher as the DXY continues to correct.
GBPAUD and EURUSD are also a buy, suggesting that the EUR and GBP are benefiting from a weaker dollar.
There is a slight gap left from the opening price compared to last weeks close, so we have the opportunity to fill that. Assuming the same thing happens as last week, we'll carry on higher. But that is the place on the chart to watch for a reversal.
The US CPI last week set the re-pricing of assets and there are still around 30 days before the FOMC decide on their next move.
GBPAUD and EURUSD are also a buy, suggesting that the EUR and GBP are benefiting from a weaker dollar.
There is a slight gap left from the opening price compared to last weeks close, so we have the opportunity to fill that. Assuming the same thing happens as last week, we'll carry on higher. But that is the place on the chart to watch for a reversal.
The US CPI last week set the re-pricing of assets and there are still around 30 days before the FOMC decide on their next move.
Trade closed: target reached
