Here are the key factors to keep in mind today for British Pound trades:
- UK CPI: The UK CPI for September is predicted to increase by 0.2% monthly and by 0.9% annualized. Forex traders can compare this to the UK CPI for August which increased by 0.3% monthly and by 0.6% annualized. The Core CPI for September is predicted to increase by 1.4% annualized. Forex traders can compare this to Core CPI for August which increased by 1.3% annualized.
- UK PPI: The UK PPI Input for September is predicted to increase by 0.4% monthly and by 7.4% annualized. Forex traders can compare this to the UK PPI Input for August which increased by 0.2% monthly and by 7.6% annualized. The UK PPI Output for September is predicted to increase by 0.2% monthly and by 1.1% annualized. Forex traders can compare this to the UK PPI Output for August which increased by 0.1% monthly and by 0.8% annualized. The UK PPI Core Output for September is predicted to increase by 0.2% monthly and by 1.4% annualized. Forex traders can compare this to the UK PPI Core Output for August which increased by 0.2% monthly and by 1.3% annualized.
- UK RPI: The UK RPI for September is predicted to increase by 0.1% monthly and by 2.0% annualized. Forex traders can compare this to the UK RPI for August which increased by 0.4% monthly and by 1.8% annualized. The UK RPI Excluding Mortgage Interest Payments for September is predicted to increase by 2.2% annualized. Forex traders can compare this to the UK RPI Excluding Mortgage Interest Payments for August which increased by 1.9% annualized.
Here are the key factors to keep in mind today for US Dollar trades:
- US CPI: The US CPI for September is predicted to increase by 0.3% monthly and by 1.5% annualized. Forex traders can compare this to the US CPI for August which increased by 0.2% monthly and by 1.1% annualized. The US Core CPI for September is predicted to increase by 0.2% monthly and by 2.3% annualized. Forex traders can compare this to the US Core PPI for August which increased by 0.3% monthly and by 2.3% annualized.
- US NAHB Housing Market Index: The US NAHB Housing Market Index for October is predicted at 63. Forex traders can compare this to the US NAHB Housing Market Index for September which was reported at 65.
Should price action for the GBPUSD remain inside the or breakout above the 1.2225 to 1.2275 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1.2250
- Take Profit Zone: 1.2800 – 1.2850
- Stop Loss Level: 1.2100
Should price action for the GBPUSD breakdown below 1.2225 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1.2175
- Take Profit Zone: 1.2000 – 1.2050
- Stop Loss Level: 1.2225
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
