FX.co ★ Trading plan for GBP / USD as of 04/10/2018

Market dynamics today will be determined only by US statistics, so no significant progress is expected until the afternoon. the main news will be producer prices, whose growth rates can accelerate from 2.8% to 2.9%, and, given tomorrow's publication of inflation data, this should support the dollar well. However, there is a possibility that investors will simply ignore all the inflation data, as the head of the Federal Reserve has already stated that an additional increase in the refinancing rate this year is not expected. In this case, the market can pay attention to data on commodity stocks in warehouses of wholesale trade, which should increase by 0.9%. This will mean that the reserves have been growing for nine consecutive months, which causes a lot of concern.

The currency pair pound / dollar, practicing the level of 1.4000, managed to turn around, returning the quotation to 1.4150. Now we see a temporary stagnation in the redistribution of this value. Probably assume a temporary bump in the range of 30-35 points, but if the price fixes above 1.4165, we will open the way to 1.4220 / 1.4240.