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GBPUSD - Is USD making a comeback due to Retail Sales Report?

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Hi,

If we look at the channel on the 1h chart of GBPUSD. We can see there is a breakout following the above average result of retail sales report of the US.

The breakout can signal as the bear move for the pair and to do a sellout on the GBPUSD might be tempting. However, it is also noted that the UK also posted a good CPI report earlier.

Therefore, I am going to wait and see whether this breakout is only an overshot or a legit one. You can see that there is also drawing on a downtrend channel on the chart to get me on the insight for the next move.

Happy Trading!
İşlem kapandı: hedefe ulaştı

Feragatname

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