the gbp / usd pair tested the strength of service area without significantly above the surface.
in fact, the us cpi is 0.1% m / m to 0.2% and 0.0% for previously. on an annual basis, the cpi rate consensus to 1.7% compared with 1.8% 1.6%, after previously.
the cpi core remains unchanged at 0.1% (m / m), and 1.7% y / y. the consensus expected a rebound in 0.2% m / m.
gbp / usd has led to the increase in a third failure to break below the support of the 1.2950.
however, the increase was very short and limited, as we are already in the area of the event before the publication of the index event.
more broadly, we see that the rejection from the support of the rebound 1.2950 are increasingly high, which form a downward triangle, with the lower limit of a threshold 1.2950 horizontally.
the horizontal boundary are down, as well as the triangles are usually figures continued to trend, suggesting that the figure breaks down, for gbp / usd continued its decline.
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below, we first 1.2900 before reaching the target, more important 1.2850.
if we broke up, on top of the triangle, the psychological threshold of the average 1.3000 and 100 hours 1.3000, we could see the development of a branch of 1.3050 rally.
in the above, the movement could then continue in the direction of the 1.3100, 1.3125 and important event 1.3150 threshold.
the gbp / usd pair is currently 1.2972 on forex.
gbp / usd h1 chart
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