GBPUSD is bouncing off the support
GBPUSD is supported by the 1.3550. A confirmed bounce off this support is required for an upside reversal. A rejection here and a break below 1.3540 could lead to a reversal lower and a bigger pullback. The overall medium-term is uptrend but we need to see a confirmation break above 1.3600 for an extension higher. As long as the GBPUSD is above 1.3500 there is a high probability that we will get to 1.3900.
Note – We are inclined to long trade entries with the stop loss below 1.3500.
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