The focus will now turn to this week’s domestic releases that include Tuesday’s CPI and Friday’s retail sales. We will also have a number of speeches from senior Cabinet ministers before hearing PM May’s speech this coming weekend.
To the upside, the 4hr 10 is located at 1.3865 and the 100 at 1.4048. On the wide, the 200-week moving average is located at 1.4375 and remains a key target to put the bulls back o the map at the Jan highs. To the downside, 1.3770, then the 1.3658 level as being the September peak on a break of the 200-4hr at 1.3826 and 1.3724 mid-Jan lows.
Set preferences to
Entry: CMP - 1.38300
Target 1: 1.35988 (+200 PIPS)
Target 2: 1.34792 (+300 PIPS)
Stop Loss: 1.39779 (-150)
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Source - General public Information!
Banker's society suggests that for GBP, focus today will be on the UK CPI print as market is already pricing in around 70% probability of a rate hike in May, and they would need to see a significant upside surprise in the CPI figures to lift UK interest rates higher today.
(But our expectations goes with a negative than the forecast)
PLAY SAFE and Good Luck guys,
we'll meet in 80Mins :)