FX.co ★ Tips for trading GBP/USD

GBP/USD started consolidating ahead of the release of US inflation data on Thursday. As pressure persisted at 1.28 for three consecutive days, sooner or later a breakdown will be seen in the pair.

Market players can take buy positions up to the 50% and 61.8% retracement levels, with take-profit on the breakdown of 1.28.

This trading idea came from the framework of the Price Action and Stop Hunting strategies.

Good luck in trading and don't forget to control the risks! Have a nice day.