Right now GBP is going to see a lot of changes. Any minute now a report on the national CPI is going to come out and we all know what that means – reports on consumer price of goods and services is one of the most important as it shows how much the consumers believe in their economy and how much they are ready to support it by keeping their spending if not higher, then at least at the same level. And it is obvious, that GBP needs its support at the moment with Brexit being at its shakiest.

And so, we are waiting for several other pieces of information to really put together a picture – what does GBP look like today and what are we to wait for in the nearest future? And it seems that traders prefer to be very careful around GBP at the moment as we can with the chart. There are both falls and rises. This kind of volatility can only mean two things – traders can’t make up their mind and the currency is too prone to swing together with the market. Both of the reasons are equally bad, so we need to stay fully alert for the next couple of hours.

There is almost no chance that the volatility is going to stop.

It is good that we have trading signals to fall back on at this time.