Forex Signal For GBP/USD: Forms Double Top Ahead of UK CPI Data
Forex Signal For GBP/USD: Forms Double Top Ahead of UK CPI Data
GBP/USD is also reacting to the political situation in the UK, with recent survey data showing Lizz Truss has a 10% approval rating.
Bear Market View
- Sell the GBP/USD pair and take a profit at 1,1100.
- Add a stop-loss at 1,1400.
- Timetable: 1-2 days.
Forex Signal For GBP/USD: Forms Double Top Ahead of UK CPI Data
Bull Market Outlook
- Set a buy stop at 1,1380 and a take profit at 1,1450.
- Add a stop-loss at 1,1280.
GBP/USD continued to consolidate with the market pending UK consumer inflation data, which traded at 1,1300 on Wednesday morning and traded below this month's high of 1,1500.
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