GBP/USD is currently trading with a bullish bias. Yesterday, the pair rebounded from the resistance level 1.47068, headed short and is still pretty much bearish. We expect the current upward rally to be a mere upward pullback and should not close above 1.4729, a close above this level will lead to an acceleration towards 1.4818, while a clear rebound from 1.4706 – 1.4729 will confirm the anticipated momentum to the lower side. This pair should be traded alongside GBP/CHF, and GBP/JPY. These pairs have a strong positive correlation of up to +0.85 and will have a similar price action during this intraday.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.4688 TGT 1.4708 1.4738 SL 1.4658
SELL GBP/USD BELOW 1.4640 TGT 1.4620 1.4590 SL 1.4670
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