GBPUSD / H1 / Daily Forex Technical Analysis / 5.1.2019

Hello Traders, welcome to the Daily Forex technical analysis. Today is May 1st, 2019 and we will be taking a look at the British Pound against the U.S. Dollar. Looking at the 1 hour time frame we would like to see a breakout of the previous highs near 1.304 zone with a bullish close above these highs to confirm an opportunity to take a Long. Once we see that close beyond the highs we can look to enter a Long position near the 1.30501 area, with a Stop Loss near the 1.30222 region. With a profit target level near the highs of 1.31070 to possibly ensure a profitable trade with a 2.04 to 1 R/R.