On GBPUSD, following the negative CPI impact, price went downward to reach a critical support zone, so what are the possible scenarios here:
1- Rebounce Back: Price hit the 1.37 level near the support area and also a long-respected trendline as it was trading inside a channel, so the price can jump back bullishly to target previous highs.
2- Dive Inside: Price can go inside the support zone with a fake-breakout of the channel for a couple of hours/days and bounce back and here we move again into the first option (1).
Long is our clearest view for now, Trade Safe and Best of Luck !
MacroForex
1- Rebounce Back: Price hit the 1.37 level near the support area and also a long-respected trendline as it was trading inside a channel, so the price can jump back bullishly to target previous highs.
2- Dive Inside: Price can go inside the support zone with a fake-breakout of the channel for a couple of hours/days and bounce back and here we move again into the first option (1).
Long is our clearest view for now, Trade Safe and Best of Luck !
MacroForex