Sterling: Bounce from Kumo cloud, What next ?
Cable rejected 1.5400 level and bounce from Kumo cloud as well as Kijun Sen.
I very hoped Cable could rally more last week, but Cable dissappointed me.
The fear of low inflation and weak data cut market appetite for Cable.
Next week, the main focus is UK CPI and like I said, BOE feared that inflation still hold under 1% this year and cann't meet their expectation.
I keep neutral view for GBPUSD currently cause of weak Dollar and weak Cable. GBPUSD should trade in range next couple weaks and BUY AROUND 1.5200 IS A GOOD OPTION.
I very hoped Cable could rally more last week, but Cable dissappointed me.
The fear of low inflation and weak data cut market appetite for Cable.
Next week, the main focus is UK CPI and like I said, BOE feared that inflation still hold under 1% this year and cann't meet their expectation.
I keep neutral view for GBPUSD currently cause of weak Dollar and weak Cable. GBPUSD should trade in range next couple weaks and BUY AROUND 1.5200 IS A GOOD OPTION.