Forex Signal For GBP/USD: Possible Drop to 1,1400 Under Control
Forex Signal For GBP/USD: Possible Drop to 1,1400 Under Control
The
GBP/USD pair also fell as investors reacted to significantly higher consumer and producer inflation data from the US.
Bear Market Outlook
- Sell the GBP/USD pair and take profit at 1,1400.
- Add a stop-loss at 1,1650.
- Timetable: 1-2 days.
Forex Signal For GBP/USD: Possible Drop to 1,1400 Under Control
Bull Market Outlook
- Set a buy stop at 1,1600 and a take profit at 1,1760.
- Add a stop-loss at 1,1500.
GBP/USD price has slumped slightly after the latest UK and US inflation data, climbing to 1,1570 to break above the weekly low of 1,1482.
It's down almost 20% from this year's low.
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