British pound breakout soon?
Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
GBP/USD: pound made a stop
2019-11-11 • Updated
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.
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.
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