We wrote yesterday to “keep risk at 1.9810 and look for support near 1.9875”.
The GBPUSD bottomed at 1.9897 and has surged higher. Move risk to 1.9897 and watch for support near the short term that is drawn off of the 6/13, 7/7, and 7/8 lows. There is potential for a push through 2.04 in wave C of a flat in the coming week(s).
STRATEGY: Bullish, against 1.9897, target TBD