Forex Signal For GBP/USD: Bearish Outlook Before Inflation Data.
Forex Signal For GBP/USD: Bearish Outlook Before Inflation Data.
Due to the double top pattern and this month's Fed decision, the pair will likely continue the downward trend with the next key level at 1,3730.
Bear Market Outlook
- Sell GBP/USD and set to take a profit at 1,3730.
- Add a stop loss at 1,3890 (double top area).
- Timetable: 1-2 days.
Forex Signal For GBP/USD: Bearish Outlook Before Inflation Data.
Bull Market Outlook
- Set a buy-stop at 1,3860 and a take profit at 1,3950.
- Add a stop-loss at 1,3800.
GBP/USD price was little changed in early trade ahead of key UK business and US Consumer Price Index (CPI) data.
The pair is trading at 1,3833, slightly below last week's double top of 1,3887.
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