The GBPUSD has been in a Bullish channel for weeks. We need to break below up trending support before we can even consider a Bearish shift. We are near the bottom and maybe be a good place to enter long. I went long @ 1.3068 when support was tested yesterday and now I am trying to resolve a target. The top of the channel is a likely target, but I will use a more conservative 1.3200.
If you are holding a long position, I thought this mid target might be of some use. :D