Gbp/Usd : Likely to break above the 1.4250 resistance/range top
It looks like the stop loss hunt has been done around 1.4035 which is also the 50 day exponential moving average support and the price got a strong rejection from that level . SSI is around 35% and there are high volatile economic numbers / Press conference on the calendar today. Hence we are expecting an upside break out above 1.4250 resistance heading to further higher levels coming days.
Trend : Up
Signal : Buy @ market price , Pending buy limit orders above 1.4030
Target : 1.4250 and 1.4470 in extension
Stop Loss/Parallel position : Slightly below 1.3950
Trend : Up
Signal : Buy @ market price , Pending buy limit orders above 1.4030
Target : 1.4250 and 1.4470 in extension
Stop Loss/Parallel position : Slightly below 1.3950
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