Sforex
Short

Cable: When traders lose patience: UK CPI in the focus

FX_IDC:GBPUSD   POUND STERLING / US DOLLAR
142 2 2
The strong 'sell-off" today of Cable describe a fact that recent disappointed data of UK gradually make traders lose patience.

Once, GBPUSD             rejected the strong resistance 1..5700 level.

Today, UK CPI             is the main focus. If this data is negative, traders have no reason to hold Cable anymore.

GBPUSD             had had 4 month trading above Kumo cloud; the cloud currently is flat; this is a good chance to break the cloud.

I still support Dollar strong.

Related Ideas

ArhamKhan
2 years ago
But data was positive and still gbp did not broke the level
Reply
Sforex PRO ArhamKhan
2 years ago
UK CPI was positive. Should be trade higher
Reply
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