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theforexarmy

GBPUSD profit target reached once again, remain bullish

Long
British Pound / U.S. Dollar (FX:GBPUSD)  
theforexarmy  
FX:GBPUSD   British Pound / U.S. Dollar
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Buy above 1.2510. Stop loss at 1.2421. Take profit at 1.2651.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target perfectly as expected. We now remain bullish above 1.2510 support (Fibonacci retracement, horizontal pullback support) for a further push up to 1.2651 resistance (major Fibonacci extension).
RSI (34) has made a nice bullish exit signalling that a further rise in price is expected.
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