Stronger than expected UK CPI vs softer PPI leaves the jury out still 18 Oct
GBPUSD tested the 1.2280 area again I've highlighted and since been back to 1.2232 while EURGBP posted 0.8972 before bouncing.
Stronger CPI vs softer PPI and a market already potentially GBP long after the Asian spike
I said in my preview that this would be an interesting set of data to watch unfold on the price actions and so it's proved with good two-way business and opportunities had for both GBP bulls and bears. As time goes by month by month we'll get a better idea of just how much this lower pound is starting to impact. It's not an overnight process and the jury remains out.
Still seems to me that we'll be contained now for a while with 1.2200-1.2300 covering cable at least until we get US CPI and see if that can provide any further momentum.
Not a lot to get excited about otherwise. Buy low. Sell high.
