If we look at the GBP/USD interbank price delivery algorithm (IPDA) 60 days range, we can see that Cable is moving sideways. Now it is in premium area's which means that there is a possibility for GBP/USD to enter correctional phase in the nearest liquidity pool at 1.2360. As long as this pair does not pass bellow the 1.2222, GBP/USD will have a chance to go up at least to the 1.2484-1.2494 levels.
(Disclaimer)
