Last week, after negative US Retail Sales, most of us think about punishing USDollar , amd Short Dollar was a favourite order, but everything changed so fast : US CPI beat the forecast, then Reuter/Michigan Consumer Sentiment again beat the forecast, USDollar quickly got momentum and rejected the low.
The question on the table now: Do we Buy Dollar again ?.
US CPI provided more confidence for FED, they have waited for a long time for a pickup of , now they see that.
But it doesn't ensure they will do this year.
From now to December, there will be more incoming data, and we should wait and keep patience.
GBPUSD bounced from SMA100 and Kumo cloud.
Kumo cloud once again provided a clear level which I always watch because of its preciseness.
While I also see a bounce from the long term descending .
I THINK GBPUSD SHOULD BACK AROUND 1.5300 LEVEL.
THAT WHY I FAVOR A SHORT POSITION FOR THE BEING TIME.
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