We continue to expect the channel support-line near 144.14 will continue to protect the downside for a break above minor resistance at 145.88 that will indicate renewed upside pressure towards 148.50 on the way towards 151.50.
Only an unexpected break below the support-line and more importantly a break below 143.75 will shift the short-term bias to the downside for a decline towards 141.08.
R3: 147.31
R2: 146.46
R1: 145.88
Pivot: 145.30
S1: 144.80
S2: 144.60
S3: 144.14
Trading recommendation:
We are long GBP from 144.60 and we have placed our stop+revers at 143.60.
