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GBP/USD Signal - GBP Consumer Price Index - 16 Jun 2021

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Signal Details
Entry Price: 
1.4081
Take Profit: 
1.4149
Stop Loss: 
1.4030
Direction: 
Buy
How we trade
Average: 5 (1 vote)

GBPUSD has bounced so far today prior to the GBP Consumer Price Index data, which is used to measure inflation. Technically price has broken below the Bollinger band and the RSI gave an oversold signal. This is a mean reversion strategy that is effective in ranging markets.

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Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion. All risks and coasts associated with online trading are your responsibility.