GBPUSD: Still in a bullish market condition

Even though the GBPUSD has been ranging in the last 4 or 5 trading sessions, we are still in a bullish market condition looking for long trading opportunities. Here is the chart:

GBPUSD

GBPUSD

The pound-dollar broke the previous resistance level (now support), this should take it to the next long term resistance level around 1.6658.

My Trading Plan

As long as the Sterling keeps trading above 1.6276, I will be looking for long trading opportunities. All take profit orders will be set below the next resistance level around 1.6658.

All short opportunities will be ignored.

Trade Safe!

Raul Lopez

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Tags: Forex majors, GBPUSD Analysis, pound, pound analysis

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Raul Lopez

I've been trading the markets for more than 14 years. All my trades are based on price action. Check out my Forex Trading Room. I can help you trade with better results.