I am looking to take GU short this morning following the release of high-impact retail numbers out from the U.S very soon. My plan is to short GU from the creation of a lower-high which is currently being formed. I have two plans for GU.
A) If the retail numbers are **poorer than expected**, this could give the Pound enough strength to retrace as high as the zone colored in blue around **1.307.**
B) If the retail numbers are **positive**, I am looking to take GU short following a break of the most recent lower-low (LL) at 1.296
My bias remains and I am looking to short GU to my weekly target of 1.286 for approx. +160 pips for plan A, and +100 pips for plan B, both to the downside.