GBP/USD did exactly what I expected yesterday. The support at the price of 1.2400 did provide strong load long positions for investors and I do expect more upside on the GBP with potential for test 1.2510-1.2545.
Purple horizontal lines – Broken trading range
Blue horizontal lines – Resistance levels and take profits
Rising purple line – Expected path
My advice is to watch potential buying opportunities on the GBP/USD due to potential buying on the dips based on the 4H time-frame. MACD oscillator is showing new got new momentum in the background, which is sign that longer frame money is still bullish. Watch for 5/15 minutes bull flags/abc down to time your long entries better. Middle Bollinger line (20SMA) did decent job like support and there is still more upside potential.
