As I said on Thursday's analysis, Gbp broke out above 1.3016, retraced back to it, just once before continuing long. I went long after the engulfing candle following this breakout and is still holding onto this position. My expectations is that the price should rise even higher towards the resistance line 1.3151. If this resistance is broken, then the price could rise towards 1.3275. According to the 4 hours chart above, long positions still remains more ideal and can safely be recommended towards 1.3151 sell positions can be recommended in case the price is rejected from 1.3151.
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