Sforex
Short

Sterling : Risk appetite decides the move.Dollar could come back

FX:GBPUSD   British Pound/U.S. Dollar
230 1 8
This week, lack of both US and UK data so the move is decided by risk appetite.

Last week, after negative US Retail Sales, most of us think about punishing USDollar             , amd             Short Dollar was a favourite order, but everything changed so fast : US CPI             beat the forecast, then Reuter/Michigan Consumer Sentiment again beat the forecast, USDollar             quickly got momentum and rejected the low.

The question on the table now: Do we Buy Dollar again ?.

US CPI             provided more confidence for FED, they have waited for a long time for a pickup of inflation , now they see that.

But it doesn't ensure they will do this year.

From now to December, there will be more incoming data, and we should wait and keep patience.

GBPUSD             bounced from SMA100 and Kumo cloud.

Kumo cloud once again provided a clear level which I always watch because of its preciseness.

While I also see a bounce from the long term descending trend line.

I THINK GBPUSD             SHOULD BACK AROUND 1.5300 LEVEL.

THAT WHY I FAVOR A SHORT POSITION FOR THE BEING TIME.

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SmartTradingFX
a year ago
I'm currently short this pair! Hoping to see a break below 1.54... Good work!
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