GBPUSD broke its downward trendline since Brexit. The fact that there was a big swing failure where price recovered very fast and it held support around the 1.2315 area (Green rectangle and bounced off the upward trendline gives us the conviction for an upward movement if we manage to get a bullish close. First resistance comes in the 1.2793 - 1.2936 area (rectangle).
Comment:
Broke above 1.2500. The close is crucial for GBPUSD to sustain this rally
Trade closed: stop reached:
Couldn't sustain the rally as discussed above and broke below the trend line and previous lows
