GBP/USD: pound made a stop

GBP/USD: pound made a stop

Recommendation:

BUY 1.4240

SL 1.4185

TP1 1.434 TP2 1.4435 TP3 1.4525

On the daily chart, GBP/USD bulls came close to 113% target of the “Shark”.  The counterattack of bears didn’t discourage the pound, because so far as it’s trading above $1.41 (the lower border of the uptrend channel), the situation is controlled by the buyers.

GBP1.png 

On H1, GBP/USD is moving within uptrend channel towards the 200% target of AB=CD. Pullbacks with the further rebounds from support may be used for buying.  

GBP2.png

 

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How to trade EUR/GBP?

The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.

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