Fundamentals:-
After the drop in CPI last week to 2.7% and all that is going on with Russia we could be in for some downside in the GBP after the recent rally. A bit of profit taking will start the sell off even if it is just brief. CB consumer confidence in the US is expected to rise possibly strengthening the USD.
Technicals:-
Now is as good time as any any to sell with a GOOD risk reward ratio we could profit from the pull back as the current 1 hour chart being overbought.
After the drop in CPI last week to 2.7% and all that is going on with Russia we could be in for some downside in the GBP after the recent rally. A bit of profit taking will start the sell off even if it is just brief. CB consumer confidence in the US is expected to rise possibly strengthening the USD.
Technicals:-
Now is as good time as any any to sell with a GOOD risk reward ratio we could profit from the pull back as the current 1 hour chart being overbought.
