GBP/USD sits in a wide area of historical support.
The daily is just easing up from near oversold condition
Price is right on S1 Daily
H4 has just moved out from os
The GBP is slightly firmer across the board
If we move above the 200 on M15 (1.3975) we maybe seeing the start of a significant retrace though any moves north will be most likely capped at 1.42 area where we are likely to see a resumption.
I'm already in this market from 1.3935 with a flexible STOP at 1.3914 for a 21 pip risk.
Target 1.42 area (200 sma on H1)
I've moved my STOP to 1.3942 for +8.
MS1 Pivot and today's open will hopefully act as support for another push by the BULLS.
I've reloaded this trade from 1.3948 as I believe we are headed higher.
New STOP is 1.3953 for +5.