In today's trading session, we are closely observing the GBPUSD pair for a potential buying opportunity around the 1.3100 zone. A bull flag pattern has formed on the GBPUSD chart, indicating a temporary consolidation before a potential continuation of the upward trend.
Once the breakout of the bull flag is confirmed, we will be attentive to any potential retracement of the breakout towards higher levels. This means that if the price moves higher after the breakout, we will be watching for a temporary pullback or correction in the price, which could provide another opportunity for potential upsides. Also with the recent inflation data in the US, which has been relatively soft, should contribute to continued upsides in the GBPUSD pair.
Trade safe, Joe.
Once the breakout of the bull flag is confirmed, we will be attentive to any potential retracement of the breakout towards higher levels. This means that if the price moves higher after the breakout, we will be watching for a temporary pullback or correction in the price, which could provide another opportunity for potential upsides. Also with the recent inflation data in the US, which has been relatively soft, should contribute to continued upsides in the GBPUSD pair.
Trade safe, Joe.
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