GBP/USD is currently trading with a bullish bias. During the previous trading day on 29th July 2016, the pair traded perfectly long as previously forecasted and is still pretty much bullish. We will remain long but only 1.3498, a clear breakout above 1.3496 will lead to a possible bullish price movements but should not go beyond 1.41199. This pair should be traded alongside GBP/HKD, GBP/CHF, GBP/JPY, GBP/CAD and GBP/NZD. These pairs have a strong positive correlation of up to +0.86 and will have a similar price action during this intraday.
Remain long with your first target at 1.3496 and the next target at 1.41199.
Margin Trading in the Forex market contains risks and can cause in significant financial losses. Before deciding to trade in the foreign exchange market, make sure that you understand the risks according to your financial experience and knowledge.