GBP/USD is currently trading with a slight bullish bias. The pair continues to retrace upwards but has not reached our ultimate retrace line of 1.5381. We are looking to sell the pair at this level, 1.5381, and along the upper resistive trend line as as long as other positively correlated pairs such as GBP/HKD and GBP/JPY are giving the same signal. In a alternative scenario, should the pair close above this resistant trend line, then long positions will be ideal for trading.
Sell along 1.5381, but with stops at 1.52500, and the next stop at 1.5166. However, should the price move above the resistive trend line, then will go long on this pair