GBPUSD
GBPUSD Long bias.
Reason:
- Core Inflation Rate YoY and Inflation Rate YoY created a fat bullish candle.
- Michigan Consumer Sentiment Prel created a bull candle response.
- USDCHF reflects a weak bullish momentum, which could potentially hold the bears or go for a breakout from the support level
Potential Scenario for Monday, 14 November 2022:
- Market would go sideways, waiting for the PPI MoM report
- Falls breakout of the major resistance level area (1.18795 - 1.18526)
- Low volatility and potential big bullish move