GBP/USD trading plan

1. Softer US PPI and retail sales, and Dec fed cut expectation made the GBP/USD rally and make the CD leg, see the graph below.

2. UK Autumn Budget today is pushing GBP/USD lower from D, however, downward move is more likely to make a retracement like BC, and then the pair may continue upside unless it breaks below C. Make sure you understand a valid breakout.

3. We are trading it to short side as the downward retracement is in progress. Then, we may wait for a bullish price action good enough for suggesting upward move, which —if it happens — may lead to formation of a 3 drive pattern.