GBP/USD: Short Term Bullish Setup

The trendline from June of 2006 continues to support the GBPUSD and both our preffered an alternate wave counts are near term bullish. The reward to risk ratio on this trade is at least 2:1 but we plan on trailing the stop with this trade. As always, updates are published daily on current and new trades at DailyFX+. We began publishing this report in May and the trades have generated a net profit of 2,465 pips (not including the AUDCAD open trade) so far.