GBP/USD: still bullish

5 Tem 2014

I see no reason why the trend shouldn't continue, it's still above the 50 day EMA and I can't spot any reversal patterns. I would put in a tight stop loss just in case. You could also go short till about 1.6883 which should take around two weeks. After that you can go long with a stop loss at around 1,688 just in case the trend doesn't continue and a profit call at around 1.731, it could go higher, but better safe than sorry.