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Coleman: Why I am buying GBPUSD

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Ian Coleman is looking to buy GBPUSD on any dips after the pair saw a good rally on Wednesday.

According to Coleman, the pair has broken out of a wedge formation to the upside. While there is scope for a mild dip, he says there is no clear indication that the rally is coming to an end.

The charts show that trend line and bespoke support are now located at 1.5462, so Coleman is looking to buy at 1.5465 with a stop at 1.5435. His targets for the trade are 1.5567 and 1.5780.