GBP did exactly what I expected last week. The price did reach our second upward target at the price of 1.2972, which is very important decision pivot. The area from 1.2972-1.009 is critical for the further development of GBP. Watch for reaction around this critical zone to confirm further direction.
To open long position:
I would like to see the breakout of resistance 1.3009 on high momentum in order to confirm potential test of 1.3165.
To open short positions:
Watch for any topping formation near the important resistance around 1.3000. Downside potential is test of 1.2802
RSI oscillator looks overbought, which adds more risk to the upside.
