Admiral Markets Group consists of the following firms:

Admiral Markets UK Ltd

Regulated by the Financial Conduct Authority (FCA)
  • Leverage up to:
    1:30 for retail clients,
    1:500 for professional clients
  • FSCS protection
  • Negative balance protection
CONTINUE

Admiral Markets AS

Regulated by the Estonian Financial Supervision Authority (EFSA)
  • Leverage up to:
    1:30 for retail clients,
    1:500 for professional clients
  • Guarantee Fund
  • Negative balance protection
CONTINUE

Admiral Markets Cyprus Ltd

Regulated by the Cyprus Securities and Exchange Commission (CySEC)
  • Leverage up to:
    1:30 for retail clients,
    1:500 for professional clients
  • ICF protection
  • Negative balance protection
CONTINUE

Admiral Markets Pty Ltd

Regulated by the Australian Securities and Investments Commission (ASIC)
  • Leverage up to:
    1:500 for retail clients
  • Volatility protection
CONTINUE
Note: If you close this window without choosing a firm, you agree to proceed under the FCA (UK) regulation.
Note: If you close this window without choosing a firm, you agree to proceed under the FCA (UK) regulation.
Regulator fca efsa CySEC asic

​GBP is Bullish, but all eyes on the CPI

September 19, 2018 12:11

GBPUSD Technical Analysis

Source: Admiral Markets MT5 with MT5SE Add-on 19.09.2018 10:05 AM

The GBPUSD currency pair has been recovering in the form of a bullish ZigZag, and at this point we can see a clear consolidation. The consolidation is occurring exactly between two important pivot points, that might break soon after the CPI data release, which is scheduled for 8:30 AM GMT+2. You can track economic announcements such as this via our Forex calendar, to ensure you don't miss them!

The CPI (Consumer Price Index) is the UK's most important inflation data. The Bank of England (BOE) uses it as the inflation target. Additionally, consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate.

Technically, the GBPUSD is bullish above 1.3170 and the targets are 1.3200, 1.3226 and 1.3280. Bears might get the advantage if the GBPUSD currency pair drops below S1, and the targets should be 1.3092, 1.3035 and 1.2980. However, depending on the CPI, the price could be bought on the dip as the pair is still supported by technical confluence of a zig zag pattern, an EMA, and a rising trend line. Additionally, the CPI is good for news traders, and attempting to make a potential trade just after a news release could be a good strategy for a fast scalping entry. Look for a deviation between the forecast results, as any deviation from the actual results might bring a lot of movement in the pair.

Short Pivot Lines - Daily Support and Resistance

Long Pivot Lines - Weekly Support and Resistance

POC - POC - Point Of Confluence (The zone where we expect the price to react - aka the entry zone)

This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.

Risk Warning

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.