Pound Sterling Price News and Forecast: GBP/USD is sensing barricades around 1.2080
|GBP/USD faces hurdles around 1.2080 as US Inflation hogs the limelight
The GBP/USD pair is struggling to cross the immediate hurdle of 1.2080 and has marked its territory after a sheer downside move from the critical hurdle of 1.2130. The cable is oscillating in a narrow range of 1.2068-1.2081 from the late New York session and is likely to remain topsy-turvy as investors are awaiting the release of the US Inflation.
GBP/USD selling the rallies at the blue box area
Another instrument that we have been trading lately is GBPUSD forex pair. In this technical blog we’re going to take a quick look at the Elliott Wave charts of GBPUSD and explain the trading strategy. As our members know, GBPUSD is bearish against the 1.2670 pivot. Recently the pair has given us good trading opportunity. In the further text we are going to explain the Elliott Wave Forecast and the trading strategy.
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