GBP/USD did exactly what I expected yesterday. My yesterday's first target got tested at the price of 1.2500. The price went for another pullback after the test of 1.2500 but I still expect more upside and potential re-test of the 1.2500 and 1.2544.
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 did star to pick momentum up again, 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. Another confirmation for the bullish momentum is the bullish outside day from yesterday
