GBP/USD, 4-hour

Long or Short: Long
Entry Point: Market (1.5214)
Stop Loss: 1.5120
Profit Target: Initially at 1.5400, but adjust depending on the strength of the bounce
Trade Explanation:

  • Upgrade of U.K.'s growth outlook and reduction of inflation forecast
  • Resiliency of the pound versus other currencies against the dollar
  • Bounce at a major support
  • RSI is below 30.0