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On our market watch, today is GBPUSD. The pair is bouncing from the support 100 SMA and 200 SMA and this bounce could extend into the bullish flag upper 1.2870 level. Look for a long trade with the SL just slightly below today’s candle.
The possible trading strategy is going long at the market (immediate order execution) with the SL just slightly above the 1.2600 level targeting 1.3000 level at least. In the case of a daily close above the 1.3000 level move the SL to break even and release the trade for larger profit.
Happy trading! (click on the chart to enlarge it)
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