Typically I would consider this breakout as a trap for the market to then rip. However, with UK CPI back at 2% (BOE targets), we could easily get hints towards early rate cuts or even increased cutting cycle tomorrow in the policy statement.
The bulls will want to hear something of a delay in cutting cycle to send this higher, however, it's hard to imagine in which scenario this will be the case. Heck, they might even surprise us tomorrow with an early cut.
GU will make its way sub 1.2600 if so.
GJ back towards 198.
Much to be determined by the BOE tomorrow.
The bulls will want to hear something of a delay in cutting cycle to send this higher, however, it's hard to imagine in which scenario this will be the case. Heck, they might even surprise us tomorrow with an early cut.
GU will make its way sub 1.2600 if so.
GJ back towards 198.
Much to be determined by the BOE tomorrow.
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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.