The British pound has been gathering momentum recently and the fundamentals data keep showing positive lately. Inspite of looking for opportunity to go long on this pair as the pair has rallied since the flash crash but still below the post Brexit, we are a little bit cautious as OPEC is to meet on November 30 for output freeze deal. Technically, the pair is long supported by rising trend line
on the daily chart
, therefore we look for long entries in the blue shaded area around 1.66027.
On the flip side a break below the trendline
invalidates our long position.
Target 1 @ 1.6774
Target 2 @ 1.7023
SL below the trend line