We are anticipating an upward movement through minor resistance at 137.38 and more importantly through resistance at 137.64 for the next impulsive rally towards the former peak at 147.72 and ultimately above here too for a continuation towards 147.07.
Short-term support is now seen at 136.13 and again at 135.51, which should be able to protect the downside for the expected rally above 137.38.
R3: 137.64
R2: 137.38
R1: 136.62
Pivot: 136.30
S1: 136.13
S2: 135.73
S3: 135.51
Trading recommendation:
We are long GBP from 135.45 and we will move our stop to break-even at 135.45
