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Cable pulls back

al_dcdemo Updated 16 Set  in #Trader's blog #GBP/USD #Support #Resistance #Consolidation #UK Inflation #H1 Chart #Us Retail Sales
Despite solid inflation numbers (particularly retail measures), Cable turned lower yesterday and continued to decline in the aftermath of a decent US retail sales report. Though, the direction is not clear at the moment as this is all likely a part of pre-FOMC consolidation.
Initial support is seen at 1.5320 - 1.5335 (Low Of Day, Previous Day Low, 50.0% retracement of the September 4th to September 10th upswing) and then at 1.5280 - 1.5300 (00's, Daily Support 1, 61.8% retracement). Some resista…
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Cable rallies on inflation report

al_dcdemo Updated 18 Ago  in #Trader's blog #GBP/USD #Support #Resistance #UK Inflation #H1 Chart #Range Top
UK inflation figures have been released today at 10:30 GMT, coming out mostly better than expected.
CPI y/y: 0.1% vs 0.0% expected, 0.0% previous
Core CPI y/y: 1.2% vs. 0.8% expected, 0.8% previous
RPI y/y: 1.0% vs. 1.0% expected, 1.0% previous
Core RPI y/y: 1.1% vs. 1.0% expected, 1.1% previous
Cable needed no excuse to rally above 50 DMA (1.5610), Previous Week High (1.5660) and five-week range top (1.5670 - 1.5690). It traded up to Weekly Resistance 1 (1.5714) so far and is currently stalling…
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UK inflation not to falling the prices?

Victoria_Crowmberg Updated 27 Mag  in #Miss Dukascopy 2013 #UK Inflation #The Bank Of England #Administered Prices #Economic Growth
Today sees the publication of the UK inflation figures for April which are likely to show for the first time in a while a fall in the rate of annual inflation. However whilst this dip is welcome it will remain over target which will make it some 41 months in a row that this has been the case. To show the significance of this in relation to UK economic policy making I would like to take you back to the Bank of England Inflation Report of May 2009 which told us this.Inflation is likely to fall bac…
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liana677 avatar
liana677 27 Mag

Not the same month as that is March rather than April but I suspect that the same will hold. Rather than a theoretical dissection of the position I thought it would be clearer to show the numbers and the contradictions they clearly imply.

janna333 avatar
janna333 27 Mag

Last summer/autumn I was very critical of the methodology used in this measure which is called CPIH. If you look at today’s numbers you can see why.

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