The recent release of the UK cpi data boded well for the pound pushing it to 1.2669. However evidence of selling pressure with head & shoulders, lower highs forming and rejection around clear resistance zones. Opportunities to sell could present themselves on the morrow. Waiting for the daily open. Unemployment claims to be released too. Short ideas with targets...
The pound has had recent upside gains due to the optimistic UK inflation data but will the prospects hold out through the Christmas holidays. BoE said to be cutting rates. GU could potentially head down before retesting for further dollar gains. Lower highs indicating increased selling pressure on the pound making buyers wary of the next bullish movement but could...
