A Bearish bias on GU ahead of GBP CPI

Short

British Pound / U.S. Dollar (FOREXCOM:GBPUSD)

Updated

FOREXCOM:GBPUSD British Pound / U.S. Dollar

trendanalysis chartpattern beyondta gu gbp gbpusd usd gbpusdshort

I spot a correction of the previous break of the bullish run on GBPUSD at 61.6% fib level, coupled with a Hidden divergence (Price making HL and RSI making an LH).

I would suggest a wait till the News got released before jumping in.

Or just watch out.

Comment:

Here you go, GBPUSD made the smart choice and went in the forecasted direction.

I am still expecting further downward movement

Comment:

Finally - GBPUSD hit the first 3% with the aid of GBP CPI y/y and USD Core retails y/y news.

Comment:

GBPUSD is stil moving

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