The pound continues its winning streak for 6 weeks in a row. This week the cross is unable to breach the previous week high at 186.15. We recommend fresh buying only above the 186.20 levels. Today, the pair opened on a bearish note. The pair has support at 184.89. In case if the prices close above 186.15 on a daily basis, the pair challenges 186.90, 187.45, and 188.30. On the down side, in case if the price falls below 184.89, the pair can correct up to 184.70, 184.50, and 184.00. The panic will be triggered below the 183.90 levels. In the hourly chart, the prices are forming continuous symmetric triangle. We recommend risky trade buying above 185.60 with immediate targets at 186.00 and 186.10. For bears, we recommend selling below 184.50 with the targets at 184.30, 184.00, and 183.60. Risky traders can sell below the 184.70 levels. Today, the focus has shifted to second estimate of UK's GDP.
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