Jan 2020 - and first up cpi - stated aim of boe is 2% - the market well aware of possible miss on anticipated 1.5% - the BRC have been posting all sorts of tales of woe.
Then came Retail sales - another miss, the BRC posted one week beforehand that 2019 was worst year etc etc - so a miss almost certain - and it was.
All on the lead up to end of Jan and interest rates - vote count already had 2 stating cut, then another dissenter added his voice last weekend in the tabloid press - typical BOE - always signal well in advance - no shocks for the market - stiff upper lip etc.
So what did the market do this week to GBP? - they bought it of course - how can you sell something already well sold, i mean profit comes from selling high does it not.
So reasonable chance that BOE will cut Jan 30th and also reasonable chance that wise guys will have created a nice little sell position - if the BOE bottle and don't cut then the sell accumulation will be dumped in one fell swoop and likely switch to buys.
There you go - my thinking dark side of the chart - coupled of course with some weird indicator or meter called thinking 1.0