Demo Friday - trade plan - GBPUSD

Here are the economic data that we should be looking out for today:
Eurozone trade balance report - 9am GMT
U.S CPI figures - 12.30pm GMT
University of Michigan consumer confidence report - 1.55pm GMT

Quick economic overview of yesterday's session:
USD was the main loser yesterday due to the weaker US data.
EUR pushed up high due to real money demand in the range of 1.27 and 1.28 and short coverings on the bank of good spanish bond auction.
GBP rallied up on the news of BP latest attempt to halt the oil leak into the Gulf of Mexico
AUD "beared" it out due to citings of China's economic slowdown in H2 would be sharper than expected.

Trade Plan:
Looking to Long GBPUSD and Short AUDUSD. I will play EURUSD after the trade balance report. As there is no news coming out of the U.K or Australia, and i am looking at more negative data out of the U.S, i'm expecting these pairs to continue on their trends.

GBPUSD
I would like to open a new long position at 1.5350 which is just above the 23.6 fibonacci level and also appears to be a fairly strong support as well since the move up. I would leave my stoploss order at the 38.2 fibonacci level which is quite near to the daily low and i would place my take profit order near the daily high which also appears to be a resistance.

Buy GBP/USD at 1.5350. Stoploss at 1.5270. Take Profit at 1.5460