Today is one of those days where most traders do not
understand what happens. A much awaited Great Britain CPI numbers were released
today and the data came out better than expected. However, British Pound fell
against major currencies. Neither me, nor any Forex specialist would be able to
explain what and why it is happening, but it does happen from time to time.
Does it mean that big market dogs want to take British Pound lower? Maybe,
anyway there is even more important news scheduled for Pound tomorrow and that
is Bank of England minutes.
I hope this data will be accepted in a logically
understandable fashion and the direction of the currency will reflect its’
fundamentals and not some big boys sentiment. I am slightly bullish in gbp/chf
(lost on a small long position today) and intend to long gbp/jpy tomorrow if
the current resistance is taken out.
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