GBP/USD shows a fake breakout…

Daily chart

GBPUSD D1 (07-18-2017 1620).png

The quid fell back below the inverse head and shoulders neckline and looks set to test 1.30 handle. The 5-DMA is stationed around 1.30 as well. UK inflation fell for the first time in 9 months, the data released earlier today showed, but squeeze is still intact as prices outstrip wages. UK consumer spending isn’t likely to benefit much from the retreat in inflation…

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s