LONG GBPUSD on Daily Chart

Updated
Long GBPUSD on a bounce off purple trendline. Target 1 = 1.2576, Target 2 = 1.2705, Target 3 = 1.2910. Stop loss is 1.2450.

Use the red trendline as a gauge on the strength of the move i.e. if GBPUSD moves past red trendline with ease, then targets 2 and 3 look to be achievable.
Note
Target 1 has been achieved. Target 2 looks set to be taken out by today (see 4 hourly chart update). Target 3 is revised to 1.2930 based on the daily chart. Let's see price action on 4 hourly to see if this can be achieved.
Note
Long Gbpusd. Stop is just below low of the day at 1.23365. Target is 1.2410 and then at 1.2440.
Note
Targets hit. 25% remaining position now has a 25 pip trailing stop loss.
GBPUSD

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