The GBP/USD 4-hour chart is showing the same USD weakness as the USD/CAD chart we showed yesterday.
This market is in a strong bullish channel which offers the opportunity to buy on a new high or a test of the bottom trendline. The daily chart is not as strong as I would like to see, but the USD seems to be weak across the board so finding the current strong currencies to trade could represent a solid trading opportunity. Stops should be placed below support with profit targets set as twice that risk for our 1:2 risk:reward ratio.
