Previous GBP/USD signal on 13th December produced a profitable short trade from the bearish rejection of the resistance level identified at $1.2437. Get today's here:
, which was suggesting that the next major move could be a bullish breakout above $1.2300.
I thought that trading such a breakout after the CPI data release would be the best opportunity. This was a good call, as the CPI data release did trigger this bullish breakout, which continued to $1.2444, before giving a short trade entryThe bullishness is now more subdued , as resurgent risk-off sentiment towards the end of last week pushed the US to make some gains. We have seen a strong USD during the Asian session which has just ended, but
it looks here as if the price has bottomed out above the key support level below at $1.2113 so we may be seeing the beginning of a bullish turnand likely to hold at least upon initial tests, so bounces at these levels can be attractive trades for scalpers.I am prepared to try a long swing trade from any bullish bounce we might get at $1.2113There is nothing of high importance due today concerning either the GBP or the USD.
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