GBPUSD ready to roll over here? Looking at key support levels ahead of US CPI

[Marcus Vance 68]

Alright guys, been watching this Cable rally closely over the last few sessions, but ngl, I'm starting to get some serious doubts about whether this upside has legs. We’ve been riding the wave of that cautious BoE hawkishness and a generally softer greenback, but Pill’s latest comments basically saying the market's getting ahead of itself with rate hike pricing are a bit of a red flag. Now we've got US inflation prints dropping soon, and if the numbers come in hot, the DXY is going to wake right back up and snatch that yield advantage straight back.

From a price action standpoint, I'm trying to map out where the trapped liquidity is sitting right now. Are we just seeing a bull trap near current resistance before a sharp sweep lower, or is the order flow still heavily skewed to the buy side? If DXY catches a bid off this macro data, I want to know where you lot are eyeing the first major structural support level to test some longs, or if you're looking to fade the highs for a quick scalp down.

Anyone else scaling out of their GBP longs here, or are you holding through the CPI print?

 

[ArthurByte]

Honestly, I wouldn't be betting on a rollover just yet. If you look at the 4H, we’ve got a massive bullish OB sitting right at the liquidity sweep from yesterday, and the market hasn't even tapped into that FVG below 1.2650 properly. I'm waiting for the CPI spike to wick into that zone so I can get long with a tight stop. It’s way too risky to short into that kind of buy-side imbalance before the news drops. Stay patient, let the algo grab the liquidity first.