GBPUSD Correction Phase Indicates Selling Potential

Dear Traders,

I'm closely monitoring the GBPUSD pair in today's trading session, and I wanted to share some insights with you.

GBPUSD is currently in a downtrend, indicating a general downward movement in prices. However, it's important to note that within this trend, the pair is experiencing a correction phase. This correction phase seems to be leading GBPUSD towards a significant support and resistance area around the 1.26700 zone.

Note

NFP came above expectations with 303k jobs created versus 212k expected. should boost the dollar.

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seems to be rejecting the trend from the other resistance of 1.26700 below. NFP did a good job with USD. our eyes on CPI tomorrow if comes hot that will signal that the mission of fed with inflation is not done yet and we will still get a boost in the dollar for the hawkish expectations.

Note

what a waterfall after a hot CPI

JoeChampion

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JoeChampion

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