Just as in Euro, the British pound successfully broke above the upper trendline and is still pretty much above it. As it is now, we are all eyes on buyers. We are waiting for a pullback towards the same trendline to pick a possible long term buy position expecting the price to rally much higher towards 1.4106, the ideal place to buy from on this chart is around the previous day's opening price. If the price can pullback to it, then further momentum to the upperside is expected, on the flipside, if the price breaks below the previous day's lowest low, then we will be settling for a sell. As it is at the moment, only buy positions looks ideal and can safely be recommended.
Trade Recommendations:
We're buyers towards 1.4106
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