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GBPUSD increased briefly then decreased

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Hello dear friends,

GU has broken out of the downward channel with a breakthrough at 1.2260. It is currently trading at 1.2198, undergoing the second phase of short-term recovery. My next long-term target is at 1.2111, followed by 1.2036.

What are your thoughts?

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The University of Michigan's consumer sentiment survey, which showed a significant increase in the one-year inflation expectations component, added a boost to the US Dollar (USD). After this report, the probability of the Federal Reserve (Fed) raising policy rates again in December fell to 67% from nearly 75% earlier this week.

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Early Tuesday, the UK Office for National Statistics will release wage inflation data for August.

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has reached the target resistance level followed by the nearest support level

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