UK CPI y/y release could definitely be a market mover and considering recent weakness in the USD, GBP is definitely positioned for further gains if we were to get a strong (3.0%+) of reading as a strong inflation figure is definitely a positive sign and the single most important reason for BOE to take action.
4:30am NY Time UK CPI y/y Forecast 2.8% Previous 2.6%
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 | September 12, 2017 | Forex Strategy
September 10, 2017 by Leave a Comment