The Pound pairs seem to be enjoying some upwards momentum of late with GBPAUD struggling to break down through 1.62000, EURGBP falling from the highs and GBPJPY making a series of new higher highs and higher lows.

GBPUSD found support at the Monthly M1/Weekly S1 last week at 1.28000. Since then we have made a series of higher highs and higher lows, and have now just broken above the Monthly Central Pivot Point.

If we can close the current H4 candle above the MCPP then I will be looking for long opportunities up to the MM3, which is also a strong level of Daily/Weekly support/resistance. I will look to lock in profit here before assessing the short side of the trade.

In terms of technical indicators confirming my bias, price is above the Daily 200EMA with positive 21/55, price is above the H4 200EMA with positive 21/55 and price is above the M60 200EMA with positive 21/55.

Daily
GBPUSD Daily

H4
GBPUSD 4 Hour

H1
GBPUSD 1 Hour

Also, if you like that sort of thing then there is an Advanced Bat Pattern completing right up at the Monthly R1:
GBPUSD Bat Pattern

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