GBP/USD Looks Set For Major Moves Ahead Of UK Inflation Data

From capitaltrustmarkets.com

Market Sentiment: Bearish Key Takeaways GBP/USD printed Lower High (LH), turning the sentiment to Bearish UK inflation report will provide clear direction to the pair A daily close below the channel support will accelerate the bearish trend GBP/USD found support yesterday around 1.6689 and closed with a bullish pin bar. The pair will get clear direction from the UK and US inflation reports which are scheduled for release today. The bias is slightly bearish due to Lower High (LH) in the recent upward move. The pair might also form a double top price pattern, threatening the 1.6250 support area. Technical Analysis The ... (full story)