GBP/USD Long-Term Trend: Bullish
Key Resistance Levels: 1.4106, 1.4153, 1.4181
Key Support Levels: 1.4070, 1.4007, 1.3975
The price on the daily time frame is in a clear uptrend where it posted higher highs and lows. It managed to break the daily resistance around the 1.4007 USD mark with a big bullish candlestick. It retraced to the daily support (previously resistance), and now we expect a rally toward the upside.
GBP/USD Medium-Term Trend: Bullish
On the 1-hour time frame the pair succeeded to break the bullish flag to the upside and now it is trading around the 1.4070 USD level. A lower correction might be seen before a strong move to the upside in the same direction of the main trend.
Buy Limit Order @ 1.4071
TP 1 @ 1.4106
TP 2 @ 1.4153
Stop Loss @ 1.4054
Trade Safely 🙂