GPBUSD CAUTIOUS LONG

There is a very real possibility that we could see some short term strength in GBPUSD this week or next considering the big sell off we have had. The target for bulls is around point 1.

HOWEVER, please note that if the yellow trend line is broken convincingly (point 2) then get out of your long positions and wait as there might be further down side.

I am personally sitting on the side lines waiting for a better entry on either side.