I am seeing a possible long trade being formed in the gbpusd pair. We are currently at a well respected level as well as the . This level has been on my watch list for sometime now and I am thinking we could see an advancement of the Pound. My rationale is many things, but most importantly the we have just recently broken and the that is not too far away. If we see a break of the horizontal line, it would give speculators more incentive to push the pair past the upper . Also, as we have seen with the current new releases from the fed and the U.S, the dollar is looking quite weak. are up due to the greenbacks setback and it gives me all the more reason to take this trade. If I could, I would be going long once we see the pound push through the current and would set stops around 1.44 and targets at from 1.50 to 1.55.
Good luck, happy trading, and farewell friends.