Trade: Short
Target 1: 1.353
Target 2: 1.343
A higher than expected inflation rate in the United States boosted the US dollar . Let's make a technical analysis of GBP/USD and decide where targets are.
On the 4H chart, we can notice two bearish signs.
1) Potential head with shoulders pattern.
2) Declining triangle on the RSI
You might open a short trade whether the price breaks through the shoulder line or the RSI closes below the bottom line. Targets are 1.353 and 1.343.
Target 1: 1.353
Target 2: 1.343
A higher than expected inflation rate in the United States boosted the US dollar . Let's make a technical analysis of GBP/USD and decide where targets are.
On the 4H chart, we can notice two bearish signs.
1) Potential head with shoulders pattern.
2) Declining triangle on the RSI
You might open a short trade whether the price breaks through the shoulder line or the RSI closes below the bottom line. Targets are 1.353 and 1.343.