On the 4 hour chart, we can see more closely the rangebound price action which is often hard to trade due to its erratic nature. The best strategy is generally to sit out and wait for a clear breakout supported by aThe GBP/USD pair retreated slightly after the latest US inflation data. According to the Bureau of Labor Statistics (BLS), the headline Consumer Price Index (CPI) rose by higher than the expected 2.7%. Core inflation rose by 3.8%, higher than the expected drop to 3.6%.
These numbers mean that inflation is still high in the country and that it will likely struggle to get to Fed’s target of 2.1%. It has remained between 3.2% and 3.3% in the past few months as the Fed has maintained rates at a 22-year high fundamental catalyst although one can also “play the range” by sell at support and selling at resistance.
These numbers mean that inflation is still high in the country and that it will likely struggle to get to Fed’s target of 2.1%. It has remained between 3.2% and 3.3% in the past few months as the Fed has maintained rates at a 22-year high fundamental catalyst although one can also “play the range” by sell at support and selling at resistance.