GBPUSD Trade Idea

I've been talking about the current flag pattern (exhaustion sign) forming on the GU. We had an upwards breakout due to yesterday's Fed Funds Rate announcement, and price is currently having a re-test. In today's trading session, I will remain neutral bias and pay attention to the current price level. If we notice some bullish momentum, that could send GU back towards the 1.4000 resistance zone. If sellers step in and push the price back within the flag pattern, that could expose 1.3794 as the nearest support zone.

The higher timeframe picture remains bullish.

Trade safe.

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