$GBPUSD: Upside to 1.3875...

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Paun British / Dolar A.S. (FX:GBPUSD)

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FX:GBPUSD Paun British / Dolar A.S.

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The Pound has triggered a bottom signal, in both the daily and weekly timeframe, right after seeing the 1st rate hike across developed nations since the Pandemic started. Weekly charts point to a rally towards 1.3875 within the next 11 weeks, and the daily chart has a buy signal right here. I'm long with a stop below 1.31625, aiming to capture the weekly move here, if possible. Don't risk over 1% in the position, I'd say. Calculate the sizing carefully. Risk management is key to stay in the game until we strike gold with a good trade.

Cheers,

Ivan Labrie.

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