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  • I don't envy the Fed officials today. These headline and core CPI figures are going to be distressing. Maintaining the 'inflation is transitory' view is the central bank equivalency of HODL or diamond hands https://t.co/jm99h6f89u
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  • Mid-Week Strategy webinar begins right now and there's some vol to work with https://www.dailyfx.com/webinars/140187219 Topics: 1) Big inflation beat, USD gives back gains 2) EUR/USD jumping right back into resistance zone after CPI release 3) Gold - bull flag remains in-play Let's go
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GBP/USD Range Expansion Objective Yields 1.4350

GBP/USD Range Expansion Objective Yields 1.4350

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

GBP/USD Range Expansion Objective Yields 1.4350

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-“Support broke easily and GBPUSD is now testing the top side of a former resistance line. This line could provide support for a bounce into former congestion at 1.5195-1.5268. In any case, a breakdown targets 1.4250-1.4350.” The bounce was weak and Cable broke down then re-tested the line as resistance (circled) today (3/12). The implications are bearish.

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