Keeping in mind our Daily Chart analysis posted a week ago, GBP/USD: Up for a rally, next targets above 1.44 (General Forecast) and our Buy Alert 2 days ago, GBPUSD: Swing Long Trade, we expect GBPUSD to start its rally to 1.44 and above next week.
Our long fill at 1.4130 gives us the opportunity to adjust our stop-loss from 1.4000 to 1.4090 and provides us with a greater Risk-Reward ratio.
GBPUSD 4H Chart – April 15, 2016
Our targets are both above 1.44, specifically 1.4465 for the 1st Target and 1.46 for the 2nd Target (see this).
Note: A break below previous low (1.4090) would indicate a more bearish scenario and that would be the level to watch for liquidating long positions.