GBP BULLS will be encouraged that Friday closed higher than Thursday, suggesting that the impact of talk of a sterling future rate rise was still influencing traders.
Price is now right up against the 100 on the DTF and the 200 on H4.
If the BULLS can keep the price at the current level then we should see the GBP advance further but its likely we'll move sideways whilst overbought conditions unwind.
BUY if price rises above 1.24
SELL below 1.2323 for a move south but be ready to get LONG on a retrace.