GBP/USD has been trading upwards as we expected. The price tested the level of 1.3220 and reached our first target. According to the H1 time – frame, we don't see any signs of reversal, which is sign that GBP/USD is expected to still trade higher. The next key resistance level is set at the price of 1.3293. In case you see the breakout of the 1.3300, the next target will be 1.3540 (Fibonacci expansion 100%)
Trading recommendation: We closed half of the position with profit of 1,500,000 pips. On the second half of a position target is placed at 1.3540.
The material has been provided by InstaForex Company - www.instaforex.com
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