GBP/USD: bears showed weakness
Recommendation:
BUY 1.4285
SL 1.423
TP1 1.4385 TP2 1.461 TP3 1.4715
On the daily chart, GBP/USD pulled back after reaching 200% target of the AB=CD pattern. Advance beyond January high will allow the pound to continue rising towards $1,4610. As long as the pair’s trading above $1,405, bulls remain in control.
On H1, GBP/USD keeps forming “Spike and reversal with acceleration”. The inability of bears to return the pair inside the uptrend points at their weakness.