GBP/USD has been trading upward during the past 20 hours and we expect more upside in the next period.
According to the H1 time – frame, we found confirmed inverted head and shoulders pattern (bullish), which is sign that upward movement can continue. Also, there is the fake breakout of the yesterday's low at the price of 1.3145, which is another sign of the strength. The projected upward target is set at 1.3315.
Trading recommendation: We are long GBP from 1.3185 and with protective stop at 1.3080. Take profit is set at the price of 1.3315.
The material has been provided by InstaForex Company - www.instaforex.com