It looks like the GBPUSD might have a short burst upwards due to it breaking the LTF (Low Time Frame) trend line. The resistance met on the up side of the trend line meant that the price is rejecting a down trend which indicates that an LTF upward trend will follow. The yellow lines indicate LTF areas of Supp. and Res. whereas the red indicates HTF areas of Supp. and Res. The pink trend line at the bottom was met with a double bottom which suggests that a short-term reversal of trend/correction is going to take place. My stop loss was created with the average true range indicator and so was the take profit.
Comment:
Take half at 1.24448.
Trade closed: target reached