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JoeChampion
Apr 12, 2023 2:26 PM

GBPUSD:CPI below expectations signals a pause of rate hikes Long

British Pound/U.S. DollarFXCM

Description

Hey Traders, in today's trading session we are monitoring GBPUSD for a buying opportunity around 1.24300 zone, GBPUSD was trading in a downtrend but after today's CPI data successfully managed to break it out, now we will be waiting for a correction to watch a potential retrace of the trend around 1.243 Support area. today's CPI came below expectations and also the previous US data where soft which indicate that fed will likely take a pause for rate hikes.
Trade safe, Joe.
Comments
basictradingtv
awesome work Joe, thanks!
JoeChampion
@basictradingtv, Sweet mate!
rTrader_official
I'm agree with your idea, nice one bro
Rameeez
Well done. I am also DXY bearish here.
UnknownUnicorn15614419
It's a good idea, but we still have to wait for confirmation, so we shouldn't go in now.
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