GBPUSD is behaving quite nicely along this channel on the 4hourly chart. It can potentially go higher to 1.26 and then 1.28 if the move has any legs left. For now, we look to GBPUSD hitting 1.2540 or thereabouts.
Comment:
GBPUSD testing the trendline support again on the 4 hourly. With USD looking so strong, I am not optimistic of the trade making money. Should have booked my profit when I had the chance some 12 hours or so ago when the pair was trading around 1.25. Such is the perils of trading without active monitoring. In anycase, the trade is still barely alive. Let's see if a bounce off the trendline is possible.
Trade closed: stop reached