GBPUSD
The GBPUSD pair went through a fake breakout following the Core Inflation Rate YoY news released on the 12th of January. This is confirmed by 2 things:
1. USINDEX has started to follow an uptrend following the fake breakout
2. Formation of the Long Upper Shadow pattern in the 1D time frame (highlighted in green). LUS pattern indicates a possible reversal of a bullish trend to a bearish trend
3. GBP is highly oversold
4. The general trend being bearish
We anticipate that the trend will become bearish .
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