GBPUSD increased briefly then decreased

Hello dear friends,

GU has broken out of the downward channel with a breakthrough at 1.2260. It is currently trading at 1.2198, undergoing the second phase of short-term recovery. My next long-term target is at 1.2111, followed by 1.2036.

What are your thoughts?

Comment:

The University of Michigan's consumer sentiment survey, which showed a significant increase in the one-year inflation expectations component, added a boost to the US Dollar (USD). After this report, the probability of the Federal Reserve (Fed) raising policy rates again in December fell to 67% from nearly 75% earlier this week.

Comment:

Early Tuesday, the UK Office for National Statistics will release wage inflation data for August.

Comment:

has reached the target resistance level followed by the nearest support level

Comment:

Trade active

Comment:

+40 pip

Comment:

Trade closed: target reached:

reached TP1