Cable Update (GBPUSD)

Quoting Fardeen1209

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Fundamentals Bearish PA Bullish but the range not still Experience a clear breakout. {image}

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Quoting dantpm

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{quote} Next up is the denominator, how is the USD going to react to US retail sales (notice how I said react and not guess that they would be )? I believe it should be largely a non issue. Most people are broke because of inflation. Even the US military gets food stamps these days! A lot of items are in short supply because of supply chain problems. All the big ticket items that need computer chips are in shorter supply.

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Quoting Headland

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{quote} A sub forecast and particularly a sub last mth, and a negative print could well see $ weakness on the knee-jerk reaction (+,) and vice versa. But, as we know, anything can happen, so trade what we see. Forecasts are for a good print?

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Quoting dantpm

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{quote} Negative numbers suggest lower spending. That would make the fed happy and support a 50 bp rate in December. The market is already expecting a 50 bp rate in December, therefore a non-issue. The same with flat numbers. Higher numbers might 'spook' the market with concerns of how it is 1 data point suggesting higher rates in Dec. I doubt that you will get higher numbers.

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Quoting Headland

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{quote} Hi, so, let's say it's a bad print,(I agree with you re the fed,) but are you saying there will be little to no market reaction as 50 bp is priced in?

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Quoting dantpm

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{quote} The CME rate watch suggests that 50 bp is currently 'priced into the market' or at least 80% of the respondents believe that we will only have a 50 bp increase.

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Quoting Coreg2004

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{quote} You have my permission...I would like to see 1.1910 to consider short, maybe during the Tokyo session {image}

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