The GBPUSD traded for month and a half in a not well defined range, it was difficult to find a trade because it was rejected at random levels, therefore it was impossible to determine where to enter the market in the short term charts. Earlier this morning though, the pound broke through an important LT resistance level, as well as its short term level, triggering a bullish market condition:

I will be looking for long opportunities. The next LT resistance level is at 1.6352, around 250 pips from where the GBPUSD is trading right now.

Trade Safe!

Raul Lopez
Forex Training