GBPUSD Continues To Rise And Broke Two-Month Highs Above 1.1740

GBPUSD Continues To Rise And Broke Two-Month Highs Above 1.1740

After the U.S released the CPI data this week the market reacted
very aggressively against the U.S Dollar (USD)

The CPI data were released lower than the previous month and this is a great indicator that the U.S is on the right track to fight inflation.

However, we have to remember that one month is not enough for a change in the Inflation rate trend.

Technical Analysis:
During this week the price found the right reason to jump against the USD after the CPI data.
It looks like the bullish accumulation was very high considering that GBP was suffering many losses
during the last couple of months.
Finally, the price broke above its September high near 1.1740.
I am expecting the price to come down for any correction near 1.1630 before it keeps rising more.
Probably we are close to a deep correction on GBPUSD this time.

Targets:
🎯 1.19000
🎯 1.2050

Thank you and Good Luck