1.5034 is a support from a low a few weeks back and I expect a bounce here. In line with my revised rules of trading off significant Support/Resistance levels, I have therefore closed the GBPUSD short and gone long here with a tight stop.
GBPUSD: closed at 1.5060, +70 pips.
Now long $20/pip GBPUSD at 1.5060, stop at 1.5040.
Stopped out at 1.5042, -18 pips.
I guess I’ll wait a little more before judging if a long is appropriate here.