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GBPUSD intra-day analysis

RedPhoenix Posted 15 Feb in #Trader's blog

GBPUSD formed a bearish engulfing pattern yesterday as data from the Office for National Statistics showed that consumer increased less than expected at a pace of 1.8%.
Economists expected to see CPI rise 1.9% instead. The British pound came under pressure with a stronger US dollar, closing the day at $1.2468.
Price action continues to trade rather flat with $1.2400 support remaining in sight.
After today softer UK wages we can expct the GBP to continue declining, going short if 1.2400 gets brea…

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December 2016 UK industrial production 1.1% vs 0.2% exp m/m

RedPhoenix Posted 10 Feb in #Trader's blog

The UK is booming!
That's hardly the case but this data confirms a solid end to the year.
In the Nov IP report I wrote this;
"Very good numbers from UK industry. We've already seen that the year could be ending well in manufacturing via the Dec PMI.
This one lags those by a month so we should (on paper) see this sustained."
The Jan PMI then dropped a tad to 55.9. If we draw the same conclusion again, (on paper) Jan should at least keep these gains but that makes the bigger risk that they don't. …

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