Forex Signal For GBP/USD: A Spark of Hope for Sterling Bulls
Forex Signal For GBP/USD: A Spark of Hope for Sterling Bulls
The pair is on the right shoulder of the inverse head and shoulders pattern: in price action this is usually a bullish sign.
Bull Market Outlook
- Set a buy-stop at 1,3800 and a take profit at 1,3900.
- Add a stop-loss at 1,3700.
- Timetable: 1-2 days.
Forex Signal For GBP/USD: A Spark of Hope for Sterling Bulls
Bear Market Outlook
- Set a sell-stop at 1,3725 this week's low.
- Take a profit at 1,3650 and add a stop-loss at 1,3800.
The
GBP/USD pair declined in the American and Asian sessions after the latest UK inflation data and FOMC minutes. The pair slumped as low as 1,3720, its lowest level since July 26.
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