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Pound/Dollar: Pair Lying in Wait for UK Inflation Data

Hourly

I hadn’t expected the pound to drop to the 67th degree. Traders were getting nervous before today’s inflation data from the UK. At 11:30, the UK is publishing its August CPI, PMI, RPI and its core output for the month.

For the past 13 hours the pair has been trading under the LB. In my forecast I’m expecting a growth in inflation. Yesterday’s spike is making me think about making a forecast for growth to 1.5485, then a return to the LB.

Часовой график евро/доллар

Daily

On Friday the day closed inside the bar and on Monday it closed outside. The price will shift in whichever direction the candle breaks.

Дневной график евро/доллар

Weekly

On Monday the pound/dollar closed near the opening level of the Asian session. As such, the situation is still the same as that of Friday close.

Недельный график евро/доллар

16 September, 07:25 (GMT+3)
Euro/Dollar: Euro Back to LB

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Forecasts which are made in the review constitute the personal view of the author. Commentaries made do not constitute trade recommendations or guidance for working on financial markets. Alpari bears no responsibility whatsoever for any possible losses (or other forms of damage), whether direct or indirect, which may occur in case of using material published in the review.

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