We see a nice ascending triangle shaping up and it calls for a break above resistance at 142.25 for a continuation towards 143.50 and ultimately higher towards 145.80 and 147.96 as the next upside targets.
Short-term support is seen at 141.86 and short-term key-support is seen at 141.56. A break below the later will delay the expected break-out for an extended dip closer to 140.34 before higher again.
R3: 144.33
R2: 143.50
R1: 142.75
Pivot: 142.25
S1: 142.01
S2: 141.85
S3: 141.56
Trading recommendation:
We are long GBP from 140.71 and we have moved our stop higher to 141.50.
