GBP weak figures

Good morning,

The 'Cable' RPI and Core CPI lower than prior but as expected! As seen on the 4 hour chart, a bearish engulfing candle is currently being set up and would like engage in some plotted risk trading.

A short @ 1.2403 position is taken, with a stop loss @ 1.2470 and a take profit @1.2280 - This take profit is conditional, meaning that if the dollar does not get a wind change in the next Fed meeting, we should be clearing out and heading towards the 2 year lows area of 1.2300 - 1.2200 zone.

Good luck