GBPUSD Technical Analysis 13.10 - 20.10 : Correction under Bullish - page 2
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GBPUSD, M5, 2013.10.15
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27 pips price movement by GBPUSD CPI
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newdigital, 2013.10.15 10:50
2013-10-15 08:30 GMT (or 10:30 MQ MT5 time) | [GBP - CPI]
if actual > forecast = good for currency (for GBP in our case)
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UK: Annual CPI up 2.7% in September
According to data released today by National Statistics, UK annual inflation rose 2.7% in September, following 2.7% growth registered the previous month. This result is almost in line with analysts' forecasts of +2.6. On a monthly basis CPI rose 0.4%, after increasing 0.4%, slightly more than the expected 0.3% growth.
Year-over-year Core CPI climbed 2.2% in September, up from 2.0% in August.
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newdigital, 2013.10.16 07:37
Trading the News: U.K. Jobless Claims ChangeUnemployment claims are expected to contract another 25.0K in September, and a positive development may trigger a near-term rally in the GBPUSD as it raises the outlook for growth and inflation.
What’s Expected:
Why Is This Event Important:
Indeed, the stronger recovery in the U.K. raises the risk of seeing the Bank of England (BoE) implement its exit strategy ahead of schedule, and the sterling may continue to outperform against its major counterparts amid the material shift in the policy outlook.
The ongoing expansion in private sector credit along with the budding recovery the housing market may prompt a further decline in unemployment, and a better-than-expected print may ultimately prompt a more meaningful move at the 1.6300 handle as the BoE retains a 7% unemployment threshold for its forward-guidance.
However, the recent lull in business outputs paired with the weakness in global trade may drag on the labor market, and the sterling may struggle to retain the range-bound price action from earlier this month should the employment report disappoint.
Bullish GBP Trade: Jobless Claims Contracts 25.0K or More
- Need green, five-minute candle following the print to consider a long GBPUSD trade
- If reaction favors a buy trade, long GBPUSD with two separate position
- Set stop at the near-by swing low/reasonable distance from entry; look for at least 1:1 risk-to-reward
- Move stop to entry on remaining position once initial target is hit, set reasonable limit
Bearish GBP Trade: Unemployment Report DisappointsU.K. Jobless Claims slipped another 32.6K in July following a 36.3K contraction the month prior, while the ILO Unemployment Rate unexpectedly slipped to 7..7% from 7.8% to mark the lowest reading since November 2012. The better-than-expected print propped up the British Pound, with the GBPUS climbing above the 1.5800 handle, and the sterling continued to appreciate during the North American trade as the pair closed at 1.5816.
2013-10-16 08:30 GMT (or 10:30 MQ MT5 time) | [GBP - Claimant Count Change]
or U.K. Jobless Claims Change (read previous post) :
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GBPUSD, M1, 2013.10.16
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ranging by U.K. Jobless Claims Change
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newdigital, 2013.10.17 07:35
2013-10-17 08:30 GMT (or 10:30 MQ MT5 time) | [GBP - Retail Sales]
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Trading the News: U.K. Retail Sales
U.K. Retail Sales are expected to increase 0.4% in September, and a marked rebound in private sector consumption should heighten the appeal of the British Pound as it raises the scope for a stronger recovery in Britain.
What’s Expected:
Time of release: 10/16/2013 8:30 GMT, 4:30 EDT
Primary Pair Impact: GBPUSD
Expected: 0.4%
Previous: -0.9%
Forecast: -0.2% to 0.5%
Why Is This Event Important:
A pickup in household spending may encourage the Bank of England (BoE) to adopt a more hawkish tone for monetary policy, and the central bank may show a greater willingness to implement its exit strategy ahead of schedule in an effort to achieve the 2% target for inflation.
How To Trade This Event Risk
Bullish GBP Trade: Retail Sales Climbs 0.4% or Greater
- Need green, five-minute candle following the release to consider a bullish GBPUSD trade
- If reaction favors a buy trade, long British Pound with two separate position
- Set stop at the near-by swing low/reasonable distance from cost; look for at least 1:1 risk-to-reward
- Move stop to entry on remaining position once initial target is hit, set reasonable limit
Bearish GBP Trade: Household Spending Contracts for Second MonthPotential Price Targets For The Release
Retail spending in the U.K. unexpectedly slipped 0.9% in September following a 1.2% rise the month prior, which was largely driven by a 1.6% decline in Household Goods Stores sales. The dismal print triggered a selloff in the British Pound, with the GBPUSD slipping below the 1.6100 handle, and the sterling weakened further throughout the North American trade as the pair closed at 1.6029.
+73 pips by GBP Retail Sales trading :
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GBPUSD, M5, 2013.10.17
MetaQuotes Software Corp., MetaTrader 5, Demo
GBPUSD - Retail Sales news event trading
111 pips price movement by GBPUSD Retail Sales :
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GBPUSD, M5, 2013.10.17
MetaQuotes Software Corp., MetaTrader 5, Demo
111 pips price movement by GBPUSD Retail Sales