Mihai_Iacob

GbpUsd- Correction could offer us a good sell entry

Short
FX:GBPUSD   Livre sterling / Dollar américain
In my post from last week regarding GBPUSD , I mentioned my anticipation of a drop below the 1.25 support zone, along with an expectation for a continuation of the downtrend by 500 pips.

These expectations remain unchanged. Moreover, with recent inflation data released from the UK surpassing expectations, there's a possibility of a relief rally being triggered.

I plan to capitalize on this correction by initiating short trades, primarily focusing on levels above 1.25.

A deviation from this outlook would occur with a daily close above 1.2650. As previously stated, my medium-term target for GBPUSD is the 1.2 zone.

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