Forex Signal For GBP/USD: Bulls Under Control Before Britain's Inflation Data
Forex Signal For GBP/USD: Bulls Under Control Before Britain's Inflation Data
As bulls target the level of 50% Fibonacci recovery in 1,3372, the party will likely continue to rise.
Bull Market View
- Buy a pair of British pounds/US dollars and make a profit by 1,3372.
- Add a stop-loss to 1,3170.
- Timeline: One or two days.
Forex Signal For GBP/USD: Bulls Under Control Before Britain's Inflation Data
Bear Market View
- Set sales-stop at 1,3160, profit-loss at 1,3100.
- Add a stop-loss to 1,3250.
The GBP/USD duo has reached its highest point since March 4th, with the lowest level of this year — 1,3250 — about 1,95% — due to a drop in the US dollar ahead of the coming UK consumer inflation data.
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