If my original technical analysis
was correct, we can now assume that GBPUSD
is going to range between support at 1.3 and resistance at 1.33. Entry point is therefore at or below 1.3, with a take profit towards the top of the range at the monthly high which 1.326. I will use a fairly tight stop, considering that the previous move above 1.3 could be considered a false break, and may suggest a reversion to the previous range (between 1.26 and 1.3).