The British Pound is finally starting to show some strength after a long downtrend.
Currently, we are inside the daily supply zone which is not the best place to blindly enter the long, but there is plenty of signs of a trend reversal.
Once we clearly break above last weeks point of control, we should head for higher target this trading week.
The first area of higher timeframe resistance can be found at 1.29.
If the price will start to break below monthly open and won't show any immediate strength, the trading idea is invalidated.
Currently, we are inside the daily supply zone which is not the best place to blindly enter the long, but there is plenty of signs of a trend reversal.
Once we clearly break above last weeks point of control, we should head for higher target this trading week.
The first area of higher timeframe resistance can be found at 1.29.
If the price will start to break below monthly open and won't show any immediate strength, the trading idea is invalidated.