GBP/USD: Cable Tests Seven-Week Highs Ahead of UK CPI

GBP/USD Talking Points:

– GBP/USD continues to show strength with contribution coming from both sides of the pair: US Dollar weakness remains as the British Pound continues to claw-back prior losses.

– This week’s big item out of the UK is the release of August inflation numbers set for Wednesday morning; but fully expect Brexit headlines to continue to push price action in either direction.

– Quarterly Forecasts have just been updated, and the Q3 forecast for GBP/USD is available from the DailyFX Trading Guides Page. If you’re looking to improve your trading approach, check out Traits of Successful Traders. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide.

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The Cable Recovery Continues

The British Pound continues to claw back prior losses, as we’ve now erased the entirety of the early-August sell-off in GBP/USD. Last month started in a rocky manner for GBP after the

Article source: https://www.dailyfx.com/forex/technical/home/analysis/gbp-usd/2018/09/17/gbpusd-cable-price-tests-chart-resistance-ahead-of-uk-cpi-forecast-outlook-srepstans.html