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Technical observation
GBP retraced to a lower trend line as indicated above then bounced at it and since then it has been trading with an increasing bullish bias, today I expect the value of GBP to rally further upwards and as it is on the chart above, I recommend that you remain bullish with your take profit at 1.3131 and stop-loss at 1.1549, if there is a clear breach above the level 1.3131, wait for a pullback and a bounce at the broken line before you continue long towards the level 1.4236, contrary in case of a penetration below the level 1.2068, short this pair towards the supportive levels 1.0932 and 1.0364.
Trade recommendation
Remain bullish with your take profit at 1.3131.
Origin: FreshForex
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About the Author: Editorial team of BIPNs
