The GBP/USD pair trades slightly lower this Tuesday, hovering between gains and losses around 1.5150 ever since the day started. The release of UK inflation figures failed to support the Pound despite the figures resulted better-than-expected, with the CPI rising by 0.1% in the year to November. Monthly basis, inflation remained flat, against expectations of a 0.1% decline. The producer price index, however, continued to fall yearly basis, down by 1.5%. The technical picture is neutral, as in the 4 hours chart, the indicators are horizontal around their mid-lines, while the price is being capped by the 20 SMA and the 200 EMA, both converging a few pips above the current level. The pair will likely maintain the range during the upcoming hours, until the release of the US inflation data at the beginning of the American session, set to determinate market’s tone for the rest of the day.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.5170 TARGET 1.5190 1.5220 SL 1.5140
SELL GBP/USD BELOW 1.5140 TARGET 1.5120 1.5090 SL 1.517
No comments:
Post a Comment