GBPUSD is bouncing nicely above our buying entry, we remain bullish for a further rise.
Buy above 1.3923. Stop loss at 1.3864. Take profit at 1.4068.
Reason for the trading strategy (technically):
Price has tested our buying entry and bounced nicely off it showing there are clearly some buyers at that level. We remain bullish looking to buy above major support at 1.3923 (Fibonacci retracement, horizontal overlap support, bullish Ichimoku cloud) for a push up to at least 1.4068 resistance (Fibonacci retracement, horizontal swing high resistance).
RSI (89) has made a similar bullish exit signalling that we’re really seeing a shift in momentum.