GBPUSD Trade Idea April 1st 2014

For this week’s trade I have selected the GBPUSD which has rallied after a healthy correction. I think the recent rally was strong enough to prompt some profit taking. Overall I remain bullish on GBPUSD for 2014, but taking profits where the opportunity presents itself is a good idea in my opinion. As I said overall I remain bullish so do not look for too many pips on this one. I may close at 1.6590 myself, but there could be room for a bit more.