bad CPI data = weak GBP ! @166.000
Great British Pound against Japanese Yen (gbjpy)
intro + fundamentals
The Office for National Statistics reported that the Oct Consumer Price Index - CPI rose by 1% from the 10.1% from the previous month.
This data came out higher than expected and is a sign that the Bank Of England - BOE will further raise borrowing costs as a measure to cool down the flaming hot inflation putting yet more bearish pressure on the quid.
technical
daily supply level of proximal price @ 166.000 is in control and is a very significant price level as it is also psychological round level of support and resistance.
price is also trading in a rising wedge, which is often considered a bearish chart pattern that points to a reversal after a bull trend.
i have short orders at 166.000 , with targets at daily demand level of price @ 163.370 and SL @ 166.990 giving a risk : reward of 1:4.
supply and demand !!!!
put together by : Pako Phutietsile
presented by : currencynerd
courtesy of : TradingView
The Nobel Prize in economics belongs to Satoshi Nakamoto
intro + fundamentals
The Office for National Statistics reported that the Oct Consumer Price Index - CPI rose by 1% from the 10.1% from the previous month.
This data came out higher than expected and is a sign that the Bank Of England - BOE will further raise borrowing costs as a measure to cool down the flaming hot inflation putting yet more bearish pressure on the quid.
technical
daily supply level of proximal price @ 166.000 is in control and is a very significant price level as it is also psychological round level of support and resistance.
price is also trading in a rising wedge, which is often considered a bearish chart pattern that points to a reversal after a bull trend.
i have short orders at 166.000 , with targets at daily demand level of price @ 163.370 and SL @ 166.990 giving a risk : reward of 1:4.
supply and demand !!!!
put together by : Pako Phutietsile
presented by : currencynerd
courtesy of : TradingView
The Nobel Prize in economics belongs to Satoshi Nakamoto
관련 발행물
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.