Softer US PPI and retail sales, and Dec fed cut expectation made the GBP/USD rally and make the CD leg, see the graph below. UK Autumn Budget today is pushing GBP/USD lower from D, however, downward move is more likely to make a retracement like BC, and then the pair may continue upside unless it breaks below C. Make sure you understand a valid breakout. We are trading it to short side as the downward retracement is in progress. Then, we may wait for a bullish price action good enough for...

Weekly timeframe suggests bullish move On the daily timeframe, there is a suggestion of a bearish move, but it is not as strong as the bullish move indicated by the weekly timeframe. This is because the weekly timeframe tends to attract institutional investors, and the three inside down pattern on the daily chart is imperfect compared to the three inside up pattern on the weekly timeframe. We will base today's EUR/USD trading on the price action observed on the H1 time frame.: On the H1...

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