GBPUSD Breakout and Potential Retrace

[nihalsari]

Hey Traders, in today’s trading session, we’re monitoring GBPUSD for a potential buying opportunity around the 1.32500 zone. The pair has recently broken out of its previous downtrend and is now in a correction phase, approaching a key retracement area at 1.32500, which also aligns with strong support on the 4H structure.

Fundamentals:
All eyes are on the upcoming U.S. CPI release, with markets expecting a slightly softer print. A weaker inflation figure could reinforce dovish expectations for the Fed, potentially putting further pressure on the Dollar and supporting GBPUSD upside into the end of the week.

Next Move:
Watching price action at 1.32500 for a possible bullish reaction and continuation toward recent highs.

Trade safe,