AIEtrading

GBPUSD fake breakout

Short
AIEtrading Updated   
FX:GBPUSD   British Pound / U.S. Dollar
GBPUSD
The GBPUSD pair went through a fake breakout following the Core Inflation Rate YoY news released on the 12th of January. This is confirmed by 2 things:

1. USINDEX has started to follow an uptrend following the fake breakout
2. Formation of the Long Upper Shadow pattern in the 1D time frame (highlighted in green). LUS pattern indicates a possible reversal of a bullish trend to a bearish trend
3. GBP is highly oversold
4. The general trend being bearish

We anticipate that the trend will become bearish .

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Taking this opportunity requires holding for at least 3 weeks if not more, but with patience, the price should reach the target. If you decide to take this opportunity, always use risk management and don't risk more than 1% of your capital per position. Don't risk what you cannot afford to lose. If you like the idea, please like it and follow us for more ideas! Happy trading from the AIE family and have a great day!


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