As US stocks decline, the market retreats while investors eagerly await Powell's testimony. Key events: UK - CPI (YoY) (May) USA - Fed Chair Powell Testifies The trading session on Tuesday witnessed a decline in US stocks, marking a shift from the previous sustained rally as investors opted to secure their profits. This decision was influenced by concerns...
The UK inflation rate has dropped to a 5-month low of 10.1%. This tells us that the peak inflation may be behind us. The decrease in transport costs, as well as restaurants and hotels, were the main drivers of the lower inflation rate. However, if we compare it to other developed nations like the US, France, and Germany - the UK's inflation rate is still quite...
GBPUSD H1 - Nice close on the hourly here, spinning top to end the session, pace slowed down on this pair, following what we are hoping is the exhaustion of the correction following our break and retest play. Really hope this moves into some nice profit over the eastern and a continued dollar gain to end the week. I.e cable shorts.
GBPUSD Intraday - We look to Sell at 1.2310 (stop at 1.2375) Buying pressure from 1.2161 resulted in prices rejecting the dip. Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. The bias is still for lower levels and we look for any gains to be limited. The hourly chart technicals suggests further upside...