After last month's surprisingly bearish market on the GBP, February finally brings recovery as the asset changes course. Already completing the majority of its retroactive movement for the week, the GBP still has a lot of room to maneuver upwards. Looking at today specifically, we will see a continuation of the bullish trend and asset should reach 171.12 with little interference. Traders are advised to look for strong CALL options throughout the day for up to 1 hour.
Even with yesterday's lack of direction the GBP/USD is going to be making strides to a higher price action during the coming week. What we can expect to see today is a strong bullish movement followed possibly by a correction during late American trading hours. As seen by the Support lines, the asset is currently bouncing from a slight downtrend and will be moving upwards throughout the day. Traders are advised to look for a mixture of PUT and CALL options, ranging from 15 minutes to 30 minutes.
This particular pair has been in somewhat of a lacking position for the last week or so but we are seeing a lot of promise in this week's movements. Finally moving toward support and resistance lines in a timely fashion, a clear visual of strong directional movement can be identified. Currently bouncing off of support 1.8052, we are seeing a medium strength bullish trend for the day to come. Traders are advised to look for CALL options for no less than 30 minutes.