Forex Signal For GBP/USD: Bears in Control Before UK Inflation Data
Forex Signal For GBP/USD: Bears in Control Before UK Inflation Data
The chart in Recent Hours shows that the
GBP/USD pair has been in a strong downtrend for the past few weeks.
Bear Market Outlook
- Sell the GBP/USD pair and take profit at 1,1400.
- Add a stop-loss at 1,1615.
- Timetable: 1-2 days.
Forex Signal For GBP/USD: Bears in Control Before UK Inflation Data
Bull Market Outlook
- Set a buy stop at 1,1570 and a take profit at 1,1650.
- Add a stop-loss at 1,1450.
While the GBP/USD price erased gains made earlier this week following strong US inflation and UK jobs data, the focus is now on the upcoming US producer price index (PPI) and UK inflation figures.
It fell to 1,1500, the lowest level since September.
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