GBP/USD has broken major resistance 1.6150 (neckline of inverted head and shoulder) and is expected to trade higher in the coming days.
An indicative break of 1.6150 would extend gain to 1.6200/1.6226.
Minor support S1 is around 1.6070 (trend line joining 1.58736 and 1.59935) and break below will target 1.6025 (Cloud bottom)/1.59935 (Oct 23rd high).
We prefer to buy at dips around 1.6120 with stop around 1.6068 for the target 1.6200/1.6226
An indicative break of 1.6150 would extend gain to 1.6200/1.6226.
Minor support S1 is around 1.6070 (trend line joining 1.58736 and 1.59935) and break below will target 1.6025 (Cloud bottom)/1.59935 (Oct 23rd high).
We prefer to buy at dips around 1.6120 with stop around 1.6068 for the target 1.6200/1.6226