GBPUSD BUY Position Approaching First Target

Just a quick update on the GBPUSD LONG trade that I posted the other week after we hit the 1.142 low from 2020 as explained in that post a strong reaction at this area was expexted with a first easy target above 1.17 we are more or less at this level now price may continue to rise though will pay attention to the CPI in the US.

I did explain in the last post we will likely get a pull back at the weekly SUPPLY/SELL zone we are now approaching for a drop back down towards 1.16 or below before moving back up long term into the mid 1.20's.

Tomorrow we have the CPI in the UK also also and a lot of news this week in the US so will be paying attention to this.