GBP/USD Forex Signal: Double-Top Pattern Forms Ahead of FOMC Minutes

Bearish View

  • Set a sell-stop at 1.2000 and a take-profit at 1.1900.
  • Add a stop-loss at 1.2200.
  • Timeline: 1-2 days.

Bullish View

  • Set a buy-stop at 1.2135 and a take-profit at 1.2250.
  • Add a stop-loss at 1.2000.

The GBP/USD price rose slightly ahead of the upcoming UK consumer and producer inflation data and the relatively weak US housing numbers. It rose to 1.2100, which was about 70 basis points above the lowest level this week.

Steve Walker

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