Pound in retreat once more after post-data gains

Author: Mike Paterson | Category: News

Another up and down day for GBP pairs 13 Feb

Slightly stronger than expected UK CPI data gave the pound a boost but against that I also highlighted softer RPI and PPI readings to temper the hawkish tones.

A second wave rally helped by USDJPY and GBPJPY finding dip support below 107.50 and 149.00 saw GBPUSD posts highs of 1.3925 and I told readers I'd be re-selling some shorts.

Rally-sell strategy working nicely again with a buy back/TP executed into the 1.3850 support/demand area. Currently 1.3871 and a decent line in the sand developing around 1.3835 so good-two trading pips to be had again for both bears and bulls with offers/res between 1.3930-50 still holding, a level I also noted in my order board post earlier.

EURGBP is testing 0.8900 again after the fall back to 0.8858 which held earlier and is also becoming a decent line to break while GBPJPY currently 149.34 seemingly in a 149.00-149.80 range for the moment as USDJPY remains tightly bound too.

By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookies