UK CPI y/y release could change the current directional bias for the Sterling as market may show some fatigue towards the never ending “Brexit” fears. If we get a significantly strong CPI, I would not hesitate go LONG on cable.
4:30am NY Time UK CPI y/y Forecast 1.1% Previous 0.9%
The Trade Plan
We´ll be looking to trade this release using my after-news retracement method. We´ll wait for the release, wait for market spike, and then wait for a decent retracement before jumping in. For more information on my trading methods: http://www.currencynewstrading.com/how-to-get-started-with-news-trading/
I’d recommend to use the Recommended Pairs from above as they are based on my CSM, which should provide the best combination of currency pairs to trade based on better/worse news… of course, you can also trade the default pair: GBPUSD.
UK CPI y/y | December 13, 2016 | Currency Trading
December 12, 2016 by Leave a Comment