Pay attention to the bullish momentum on the Pound

The GBP/USD has broken above the 1.4100 level as shown on the daily chart and the bullish momentum has taken the pair to a high around the 1.4164 level. The long upper shadow on the last candle indicates a bearish interest towards the end of the trading session. However, the pair may continue rallying and it could reach the 1.4200 level, which could act as resistance. A better resistances though is at the 1.4300 level where we can find the 55 month EMA. Since we don’t know for sure where the price may bounce to the downside, we could use a money management strategy where we enter with half of the usual lot at one level and then if the price keeps heading higher, we enter with the other half and average the position. To the downside, the 1.4000 zone is still a congestion area.