🔹After a volatile week for the Pound in the aftermath of the UK general election, the pair jumped from 1.261 to 1.283, 1.8% increase in one week.
🔸UK inflation reached the BoE's 2% target in May for the first time in nearly three years. Core inflation fell from 3.9% to 3.5%, and services inflation fell from 5.9% to 5.7%, still high for the BoE.
🔹BoE may wait for further evidence of falling inflation before cutting rates, till then pound if combined with a weak Dollar it can reach higher levels such as 1.286, 1.289, 1.296 and 1.310.
🔸Thursday’s upcoming US CPI report is anticipated to drive US dollar volatility. The US dollar index (DXY) saw marginal upward movement following Powell's remarks. If the coming reports had a positive impact on the dollar we can expect the GBPUSD pair to fall back inside the pattern and down to 1.268, 1.262, the 200 MA (1.258) and 1.244.
Zanzibar Trading
🔸UK inflation reached the BoE's 2% target in May for the first time in nearly three years. Core inflation fell from 3.9% to 3.5%, and services inflation fell from 5.9% to 5.7%, still high for the BoE.
🔹BoE may wait for further evidence of falling inflation before cutting rates, till then pound if combined with a weak Dollar it can reach higher levels such as 1.286, 1.289, 1.296 and 1.310.
🔸Thursday’s upcoming US CPI report is anticipated to drive US dollar volatility. The US dollar index (DXY) saw marginal upward movement following Powell's remarks. If the coming reports had a positive impact on the dollar we can expect the GBPUSD pair to fall back inside the pattern and down to 1.268, 1.262, the 200 MA (1.258) and 1.244.
Zanzibar Trading
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.