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13.12.2023 11:52 AMFollowing the release of US inflation data, dollar demand strengthened, leading to a strong downward movement in GBP/USD during the US session. Although the pair did not reach the weekly low, buyers found themselves trapped around the level of 1.25.
The pair continues to decline today, breaking the bullish trend.
Having this situation, traders should consider short positions with stop-loss set at 1.25600. Take profit upon the breakdown of 1.25000.
The trading idea follows the framework of the "Price Action" and "Stop Hunting" strategies.
Good luck in trading and don't forget to control the risks! Have a nice day.
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