Cable trades 0.09% lower on the session heading into the CPI reading. CPI year on year is expected to come in 0.1% lower than last months 1.7%. GBP/USD 4-hour Chart Today leading into the CPI data cable has taken a dip lower. The reading is projected to be slightly higher than lasts months reading but we have seen some GBP strength since September. In October GBP/USD moved 6.71% higher from the low to the high and EUR/GBP lost 4.88% of its value. This should push inflation lower due to the purchasing power of GBP. Having said that there are some one-off price increases in certain items (like oil). Looking at the 4-hour chart below, you can see the small triangle-shaped formation has broken to the downside. The main consolidation low support stands at 1.2769 and if this gets taken out the next significant support zone is at 1.2535. Later in the session, we are also due to hear from Fed Chair Powell and have the US CPI reading, so we could expect to see more volatility. Additional Levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Selling pressure looks alleviated in GBP/USD – UOB FX Street 3 years Cable trades 0.09% lower on the session heading into the CPI reading. CPI year on year is expected to come in 0.1% lower than last months 1.7%. GBP/USD 4-hour Chart Today leading into the CPI data cable has taken a dip lower. The reading is projected to be slightly higher than lasts months reading but we have seen some GBP strength since September. In October GBP/USD moved 6.71% higher from the low to the high and EUR/GBP lost 4.88% of its value. This should push inflation lower due to the purchasing power of GBP. Having said that there are some… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
