key support: 1.37
Key Resistance: 1.3740 – 1.38
After yesterday’s BOE day, the GBP surged 1% against the USD to retest the 1.37 level: Aug. 30 – Sept. 8 base. This level is key for further upside on this market.
Yesterday’s 1% rally marks the breakout of the mid term bearish structure that retested the 1.3900 level an my trade is looking to get in on the new reversal in place.
The flag is printing right below the previous base and I’m targeting the ADR highs and the next key level which is also the 1.618 of the flag and its calculated targets.
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