Today’s broad dollar selling has brought GBPUSD a few steps closer to Jamie’s first target. The rally has clearly triggered the next run, but the question now is whether the market can pick up with the same pace at the open of next week. This is unlikely and consolidation is almost certain. Should bulls gather their footing before a natural retracement, however, the next move will be on 2.0000 which represents not only a psychological level and frequented pivot point, but also a 61.8% fib of the 2/20 to 3/14 rally.
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STRATEGY: Bullish, against 1.9648, target 1 at 2.0175, target 2 TBD