UK CPI
The United Kingdom CPI will be released today. As always, we expect a strong movement in the price of the pound sterling. It is usual for the price to swing when the data is announced. This is due to the fact that the volume usually goes down expecting new information, which makes it possible to move the price in the opposite direction to the trend, confusing the retail participants and for savvy traders to better position themselves.
As an example of past action on this kind of news, we can see the GBPUSD chart on March 20. The price rose before the announcement and did not start reversing until a few minutes before the announcement, leaving all the bulls out of the game.
© Forex.Academy
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