Technical Analysis:
Today the GBPU/USD maintains its lateralization between the 1.6000 and 1.63400 zones. This movement has been occuring for the last 3+ months. Its nearer to the resistance than the support: 1.93% away.
Fundamental Analysis:
The latest inflation data, showed no deep rise in prices, either in the UK or the US. The GBP "believed" in a strong inflation value to break the resistance, which didn't come true last week.
Strategy:
The next days may define the "road ahead" for the pair. Long positions must be cautious given the distance to the support. Short positions may be safer, but require the appropriate stop orders.
[Disclaimer]
This article doesn't constitute any advice on investment and the author takes no responsibility for the outcome of orders opened based on the information written here. The reader must take into account his own investment profile and financial capability. Investing in the forex markets can incure in severe losses.
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