Facts:
- The pair bounced off the lower limit of 1:1 structure at 1.3500
- Main trend on the pair remains upward from the beginning of April
Recommendation: Trade: Long GBPUSD at market price Target: 1.3635, 1.3700 Stop: 1.3439
Opinion: Looking at GBPUSD chart, one can observe that the price bounced off the key technical support marked with the lower limit of 1:1 structure (red rectangles), as well as the 200-period moving average from H4 interval. In addition, the price formed a pin bar pattern on the chart. Should buyers manage to hold the price above the support area near 1.3500, another upward impulse may be about to start. We recommend taking a long position on GBPUSD at market price with two targets: 1.3635, and 1.3700. We recommend placing a stop loss order at 1.3439.
