Now that I'm waiting for the CPI data from the United States to make a trading decision, I'm considering two possible scenarios. If inflation is better than expected and the GBPUSD price breaks downwards, I plan to go short. This is because the British pound has shown weakness throughout the day. On the other hand, if inflation is worse than expected, I will be watching for a possible bullish breakout in the NZDUSD pair. In that case, I will consider going long, as the New Zealand dollar has been the strongest currency in this session.
Remember, it's important to conduct thorough analysis and consider the risks associated with trading. Additionally, setting stop-loss levels is recommended to protect capital in the event of unexpected market movements.
Please note that this response is based on the information provided and does not constitute financial advice. It's always advisable to conduct your own analysis and consult with a professional before making trading decisions.