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Long

GBP/USD: Buy above break out

FX:GBPUSD   British Pound/U.S. Dollar
422 1 13
Major support -1.4050 (Mar 16th low)

Minor resistance -1.4100 ( trend line joining 1.4120 and 1.4104)

The pair has once recovered after making a low of 1.40580. it is currently trading around 1.40872.

The minor resistance is around 1.4100 and slight bullishness can be seen only above 1.4100.

Any break above 1.4100 will take the pair till 1.4167/1.4200/1.4250.

Short term bearish invalidation only above 1.4250.

On the lower side any break below 1.4050 will drag the pair down till 1.4000/1.3970 level.

It is good to buy above 1.4100 with SL around 1.4050 for the TP of 1.4200/1.4245
Kiva
a year ago
Just to make sure. By "break below", you mean the candlestick should *close* below 1.4050? Or is it enough that it just penetrates 1.4050 then close above it?
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