Overall Trend & Context:
The pair is in an overall downtrend on the higher time frames and we are now waiting for the lower time frames to shift in accordance with the narrative.
Technical Findings:
Price is at a daily level of supply (as well as refined zones down to the 15m & 5m)
LTF oversold conditions.
We could still see further upward movement so will wait for either a break at 1.03650 or for our
GBPUSD trade to run into profits (or both).
Potential Scenarios:
For now I will only be considering shorts.
Risk accordingly and be safe for CPI today.
The pair is in an overall downtrend on the higher time frames and we are now waiting for the lower time frames to shift in accordance with the narrative.
Technical Findings:
Price is at a daily level of supply (as well as refined zones down to the 15m & 5m)
LTF oversold conditions.
We could still see further upward movement so will wait for either a break at 1.03650 or for our
GBPUSD trade to run into profits (or both).Potential Scenarios:
For now I will only be considering shorts.
Risk accordingly and be safe for CPI today.
Trade active
I've entered a small position at 1.03730 based on current price action. This will act as a feeder position and if it goes in our direction we can add more lots along the way.Trade closed: target reached
Didn't have time to re-enter so closed up shop for a 4% gain on this one. 
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.