Note

GBP/USD RETREATS FROM 1.2700 AS INVESTORS BRACE FOR THE US CPI RELEASE

ia7145
· Views 19




 

  • Sterling’s recovery falters at the 1.6680-1.6700 resistance area.
  • An increasing risk aversion ahead of the US CPI release is supporting the USD.
  • The broader trend remains negative while below 1.6680


The Pound has found some supply at levels right above the 1.2700 area before pulling back with investors cutting back short USD positions ahead of the US inflation release. The pair, however, remains moderately positive for the second consecutive day.


Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

FOLLOWME Trading Community Website: https://www.followme.com

If you like, reward to support.
avatar

Hot

No comment on record. Start new comment.

Content related