GBP Consumer Price Index (CPI) Forex Trading Strategies
What are the best forex strategies to trade the GBP Consumer Price Index (CPI) economic news trading release? From my experience, just wait 5-10 min after the UK CPI release before even looking for possible trades.
Why? Spreads could easily widen up to 20 pips or more on the GBP currency pairs right before and after the CPI report. As a result, you will be already 20 pips in the red or even worse, your stop-loss is hit before the market has even started moving! It’s not worth the risk.
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:
Use 1M- 5M scalping strategies and short-term trend following systems to benefit from this econonic news release. Here’s a selection of free strategies and systems that can be used to trade the UK CPI report. Click the links below to visit the page.
20 Pips GBP/JPY Scalping Forex Strategy
1 Min Easy Forex Scalping Strategy
High Frequency Dynamic Support and Resistance Forex Scalping Method
5 Min Forex Scalping Strategy With Stochastic And Supertrend Indicator