In previous post I shared my interest in a long on Euro. However, GBPUSD seems to be the stronger one between the two based on recent price action on EURGBP.
Looking at GBPUSD, It stays in a bullish scenario as long as long as price doesn't fall below 1.2474. However, on an intra-day basis, i'm looking for GBPUSD to stay strong and break above today's daily high at 1.2562 and potentially head towards 1.2600 and then to the old daily high at 1.2650.
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Price has acted more aggressively than expected. However, it has reached it's TP1 level.
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Moving forwards, we're looking for a deep retracement towards 1.2520.
If we get this retracement, this could give us a 2nd opportunity to go long aiming at 1.2650.