Pure technical play. See chart for analysis and markups.
Long term target indicated by the position tool, would suggest taking profit along the way at the 50% and 61.8% fib levels and leave a runner to chase the upper end of the range.
Not saying I see/know some sort of fundamental reason why the pound may be about to strengthen, or USD weaken, so I am prepared to tap out of this one. It is a very low risk trade but if it works it will provide nice return.
Long term target indicated by the position tool, would suggest taking profit along the way at the 50% and 61.8% fib levels and leave a runner to chase the upper end of the range.
Not saying I see/know some sort of fundamental reason why the pound may be about to strengthen, or USD weaken, so I am prepared to tap out of this one. It is a very low risk trade but if it works it will provide nice return.