GBPUSD looking to continue its momentum

GBPUSD (1.5204)

GBPUSD is moving in a nice upward trend and seems to continue this momentum and currently traders will look to buy GBPUSD on dips around 1.5560 level. And if the dip is extended by GBPUSD, then another good buying level can be seen around 1.5450 level. RSI is a bit on the higher side but still I see GBPUSD making a move towards 1.5675 level.

  

TRADE:

Buy GBPUSD @ 1.5560 (buy again @ 1.5450 if required) for Profit Level @ 1.5675 with Stop @ 1.5400

GBPUSD looking to take retrace towards 1.4800 level

GBPUSD (1.4920)

GBPUSD is looking to take a dip below 1.4800 level at the moment and traders will be looking to sell GBPUSD for anything above 1.5000 level. GBPUSD might look to resume its upward trend from 1.4800 level and therefore traders will look to reverse their positions by buying around 1.4800 level. RSI is also in the middle and will support market movement in both direction and thus don’t give any indication of direction. Use of small stop might also come handy.

  

TRADE:

Sell GBPUSD @ 1.5015 for Profit Level @ 1.4800 with Stop @ 1.5065

GBPUSD gathering further momentum

GBPUSD

GBPUSD seems to be gathering further momentum and it current target seems around 1.5125 level and once GBPUSD manages to break above that level, it will be looking to target 1.5300 level. Conservative traders might look to buy GBPUSD on dip below 1.5000 level and from there will look to target somewhere around 1.5300 level.

Recommended Trade:

Buy GBPUSD @ 1.4935 for Profit Limit @ 1.5300 with Stop @ 1.4835

GBPUSD looking to target 1.4885

GBPUSD (1.4732)

GBPUSD is looking to target 1.4880 at the moment and that will complete long term retracement for GBPUSD. 1.4880 level will also be important because GBPUSD might resume downward trend from there and in case GBPUSD manages to break that level then we will be looking at GBPUSD heading above 1.5000 level. Currently traders will look to buy GBPUSD around 1.4675 level for nice intra-day trade.

  

TRADE:

Buy GBPUSD @ 1.4675 for Profit Level @ 1.4850 with Stop @ 1.4625

GBPUSD looking to target 1.4885

GBPUSD (1.4729)

GBPUSD manages to break above 1.4700 level yesterday and the movement seems to continue towards 1.4885 level. Around 1.4900 level, we will see GBPUSD tested by weekly resistance as well as GBPUSD will be touching long term Moving Average. If GBPUSD manages to break above 1.4900 level, then the long term upward trend will be confirmed and we will be looking at only buying GBPUSD after that. Currently traders will look to buy GBPUSD for targets around 1.4885 level and once GBPUSD gets there, aggressive traders might opt to sell with stop and conservative traders might choose to stay back and let GBPUSD settle on its trend.  

TRADE:

Buy GBPUSD @ 1.4705 for Profit Level @ 1.4885