Dear traders, despite yesterday's 100 pips fall which gave us a good profit of 87 Pips on our sell trades, GBP/USD has managed to recover.
If you are planning on selling GBP/USD, I would recommend you to wait for a better entry. Keep in mind that a perfect entry is crucial to ensure your trading strategy is profitable.
So, if GBP/USD reaches 1.2675 level and bearish price action forms, traders can consider selling GBP/USD@1.2675 with SL above resistance and TP at 1.25
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Price has spike up after CPI news, there is a chance that GBPUSD may go back down to 1.2530 by end of the day