GBP/USD takes trend line support near 1.5540, targets 1.5670

FX:GBPUSD   British Pound / U.S. Dollar
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Cable is trading within narrow range 1.56771 and 1.55483 for the past three trading session.

Today it went up to 1.56168 in Asian session and pared its gains once European session started.

Overall trend is still bullish as long as support 1.5540 holds. Any break above confirms short term weakness, decline till 1.5480/1.5435 cannot be ruled out.

On the upside any break above 1.5600 will target 1.5630/1.56770/1.5690 in short term.

It is good to buy at dips around 1.5590 with SL around 1.5400 for the TP of 1.5670/1.5688.
first you posting a sell a day later a buy
thx for sharing..here is my view for the hourly-chart
Here a breakout trading idea. The Long Trigger is the neckline of the shs. I have illustrated 2 possible Long positions, one is ultrashortterm the other shortterm :-)
The Szenario is only active if theprice of the pair will not be fall below the level of the left shoulder
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