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Long

Time for a GBP/USD bounce?

FX:GBPUSD   British Pound / U.S. Dollar
09:30 saw the release of Average Earnings and Claimant Count Change. Both exceeded expectation. This would normally see the GBP strengthen but so far we have seen little movement in either direction. 1.4078 was the low on 15th Jan 2016 and this level was (almost) reached 3 H1 candles ago and there are signs this may have been a double bottom .With RSI turning north from oversold and Stoch RSI flat, there's a fair chance we could be headed higher. I'm in this market LONG from 1.4115 with a STOP under the low at 1.4082.
Trade active: LONG GBP/USD from 1.4115
STOP 1.4082
Target OPEN but 1.4236 (200 sma on H1) initially
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