Preferred direction: SELL
Comment: As expected, due to the high correlation between the British pound and the Euro, the situation for these currency pairs before US inflation is absolutely the same. For this pair, scenario №1 is considered worked out. But scenario №2 does not lose its relevance.
Therefore, scenario №2 is very relevant before the publication of data from the United States. We set the downside target at 1.26000. We place the stop loss at 1.28500, closer to 1.29000. If something happens, within the specified stop loss ranges, you can consider adding a position or re-entering the sell.
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Comment: As expected, due to the high correlation between the British pound and the Euro, the situation for these currency pairs before US inflation is absolutely the same. For this pair, scenario №1 is considered worked out. But scenario №2 does not lose its relevance.
Therefore, scenario №2 is very relevant before the publication of data from the United States. We set the downside target at 1.26000. We place the stop loss at 1.28500, closer to 1.29000. If something happens, within the specified stop loss ranges, you can consider adding a position or re-entering the sell.
Thank you for like and share your views!
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Note
‼️Trade idea is relevant for US PPI data publication as well‼️⚡️New US PPI's ideas for AUDUSD, USDCHF, SILVER⚡️
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🔥Trade with Strifor broker 👉 t.me/+vEBNFbz_wItmNzhi
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.