EUR/USD: No change. We are bearish and prefer to fade upticks against resistance in the 1.1300 area. A move below 1.1135 would signal lower towards our targets near the 1.1050 area and then the 1.0815 May lows. Our greater downside targets are at the 1.0460 year-to-date lows. GBP/USD: Thursday’s bullish engulfing candle has encouraged us to re-instate our bullish view. We are looking for a move back towards the 1.5930 range highs. ...
Trading the News: U.K. Consumer Price Index An uptick in the headline & core U.K. Consumer Price Index (CPI) may spur fresh monthly highs in GBP/USD as it raises the Bank of England’s (BoE) scope to remove the record-low interest rate sooner rather than later. What’s Expected: Why Is This Event Important: BoE Governor Mark Carney may sound increasingly hawkish over the coming months as the ...
- U.K. Consumer Price Index (CPI) to Slow for Fourth Time in 2014. - Core Inflation to Fall Back From 2.0%- Marked Fastest Rate of Growth Since September. Trading the News: U.K. Consumer Price Index A marked slowdown in the U.K.’s Consumer Price Index (CPI) may generate a larger pullback in the GBP/USD as it limits Bank of England (BoE) scope to normalize monetary policy sooner rather than later. What’s Expected: ...
British Pound at Risk Ahead of Key Data, Trades at Critical Support Fundamental Forecast for Pound: Bearish British Pound falters as Bank of England shows no rush to raise rates Cable nears critical price levels, next move is key The British Pound pulled back further from multi-year highs as a drop in UK yields and a broader US Dollar reversal produced the second-consecutive week of GBPUSD declines. ...
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