Which are the best forex strategies to trade the particular GBP Consumer Price Index (CPI) monetary news trading launch? From my own experience, just hold out 5-10 min following your UK CPI launch before even trying to find possible investments.
Why? Spreads can easily widen around 20 pips or maybe more on the particular GBP currency pairs prior to and following your CPI record. As an outcome, you will probably be already 20 pips in debt or worse, your stop-loss will be hit ahead of the market provides even started out moving! It’s not necessarily worth the chance.
How to trade this report
Just wait 5-10 to digest the news and make sure to wait for the spread to return back to the normal 2-4 pips levels.
Preferred time frame(s): 1 minute and 5 minute chart
Best currency pairs to trade GBP CPI: GBP/USD, GBP/JPY
Best Trading Strategies & Systems:
Make use of 1M- 5M scalping methods and short-term trend subsequent systems to take advantage of this econonic information release. Here’s an array of free methods and systems you can use to trade the united kingdom CPI statement. Click the actual links below to go to the web page.