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USD waits for the CPI, GBP already got a boost from the BoE.

By:
Tomasz Wiśniewski
Published: Sep 14, 2017, 11:27 UTC

Today the main event of the day will be CPI from the US but the rate decision from the BoE also got some attention. USDCAD ahead of the CPI is forming a

GBP USD

Today the main event of the day will be CPI from the US but the rate decision from the BoE also got some attention.

USDCAD ahead of the CPI is forming a bearish flag. This pair likes and uses trend continuation pattern so we should see a further drop, obviously if the CPI will allow us to do so.

EURGBP was pointing south even without the help of the BoE. We had a failed wedge false breakout, then a drop and a rectangle. The rectangle on the local support promoted the downswing and that what happened. Next support is on the 38,2% Fibonacci.

CADJPY is a good trading opportunity for the long-term traders. They can use here a massive inverse head and shoulder pattern and a positive swap point.

This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis

About the Author

During his career, Tomasz has held over 400 webinars, live seminars and lectures across Poland. He is also an academic lecturer at Kozminski University. In his previous work, Tomasz initiated live trading programs, where he traded on real accounts, showing his transactions, providing signals and special webinars for his clients.

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