GBP is currently rallying around 1.2708. As I mentioned yesterday unless the price is clearly below the daily support line 1.2738, I'm patiently waiting for a breach below it to pick a long term short position with an ideal take profit at 1.2112. If you're not short already wait for a breakout below this level to pick a short position. ON the other side, should the price get back above 1.2734, then this will be a good place to look for a long term long position with the first take profit at 1.3483 and the next at 1.4352. Alternatively, you could be flat and wait for a break below 1.27.
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