GBP/USD bouncing from support

GBP/USD has been in an uptrend since the pair broke out from the head and shoulder pattern on the hourly chart. After being slightly overbought the pair is now testing the support after retracement. There is powell testiminy in about 6 hours from writing this idea. There is a strong chance that the pair bounces from the support till then. Expect the next few hours to have a bullish bias on the currency pair.

Trade geschlossen: Ziel wurde erreicht:

Up 30 pips in a couple of hours, that is good enough for a day trade! Time to exit.