GBPUSD has held the trendline on the 4 hour chart over the past 3 1/2 months. Buyers are firmly in control at this stage of the game. We would like to see GBPUSD trade above our moving averages before initiating a position.
W will be buyers above 1.56400, stop set at1.55200. Target are 1.57550 - 1.58000.