GBP/USD rebounded after the short term decline and now it could pass above the most recent peak high. It seems that the retreat was ended after the failure to approach the 1.3027 static support.
The bullish bias remains intact as the quote is located far above the uptrend line. Passing above 1.3267 suggests buying again if you are not long yet. GBP/USD decreased only to attract more buyers and more bullish (upside) energy before resuming the swing higher.
- GBP/USD Trading Tips
Buy the breakout above the former top, above 1.3267 level. You can set your first target at 1.3400 psychological level and your Stop Loss below 1.3027 level.
Sell again if GBP/USD slips below 1.3027 level with the target at 1.2750 level.
