Reasons for Trade: 1) Price is still above the Moving Averages 2) Price is still making Higher Lows 3) MACD crossed the Signal Line 4) Remembered Line is significant support at the 1.5540-60 levels (there was a strong break of this level and now a retest and a few days of consolidation) 5) Price found the 55 Day MA as support level also 6) Trend Line angle 30 degrees (For me a good trend line is a line with angle between 30-40 degrees)
I will wait for tomorrow MPC Bank Rate Votes in order to trigger my trade.
1) ENTRY: Above the consolidation price around 1.5680 2) Stop Loss: Below the lows and 55 Day MA 3) Take Profit: at 1.6070 Yearly Pivot Point and next Resistance level after a break of 1.5900