GBP

Pound is set for Reaction to U.K Inflation Data

Tomorrow’s inflation data allows speculators to position themselves now for price action which is certain to occur over the next twenty-four hours.

Pound Remains within Higher Realms

The Pound has experienced a bit of pressure this morning as it trades near the 1.4235 juncture versus the U.S Dollar. However, the British currency remains within the higher realms of its mid-term range.

GBP/USD 4H Chart
GBP/USD 4H Chart

Strong resistance abounds near the 1.43 level, while quality short-term support appears to be the 1.42 mark.

Big Inflation Numbers Tomorrow from U.K

Forex has seen consolidated trading in many of the major currencies the past few trading sessions, but oddly the Pound has remained quite strong as the Euro has been slightly weaker against the U.S Dollar.

GBP/USD Daily Chart
GBP/USD Daily Chart

Tomorrow and Wednesday will deliver important inflation data from the U.K, which could spark price action within the Pound. Speculators may try to position themselves today before the big numbers are published in a little less than twenty-four hours.

In the short term, we believe the Pound could be negative. The mid-term and Long term we are unbiased.

Yaron Mazor is a senior analyst at SuperTraderTV.

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Yaron Mazor

Yaron has been involved with the capital markets since 1998. During the past 16 years, Yaron has been a day and swing stocks trader in the American market. Yaron has founded and made successful investments into businesses spanning exciting industries – from apparel to restaurants and bars, to high tech, medical technology and education. Ten years ago, Yaron sold all of his businesses and became a trader. Yaron started an education provider that taught thousands of people worldwide how to trade. Since then, he has traded every single day across every imaginable financial instrument Organic Trading System (OTS) is an unprecedented, new paradigm of trading technique, developed by Yaron Mazor. The trading system utilizes a combination of essential resources of market data (Fundamental, market participant sentiment and the basic concepts of trends), which are harmonically coordinated, in order to enable a relatively fast, simple and easy way to decide which side of the market to be trading from – the Buy side or the Sell side.