GBP rotation upwards towards February 50% level from January lows...3-day BUY cycle and trading above the Weekly 50% levels...(bullish)
GBP moving into upper Weekly and daily channels (resistance)
Ideally the best trading set-up is still to rotate back down to the 3-day lows (Weekly 50% level) and trade upwards into the 2nd half of the Week..
'Fake-break' on Tuesday, often Tuesday's highs @ 1.9904 can end up being resistance and next day moves down...
Note: 43 pip high 1.9924
Once again GMT and US market hours will push GBP around....
US FED cuts rates tonight and GBP will continue upwards towards February 50% level...
If it doesn't I favour a move back towards the 3-day lows
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