At present pound is in the area of non-trend movement which can’t be even called a side motion.
The main indicator of the market movement direction is Alligator based on the smooth moving average. Alligator shows that the market does not have any certain direction. There are no fractal signals on such a flat market.
At the same time we can still say that the price still has the potential of bullish movement. Despite the fact that at the end of May the price broke through the 50.0 Fibonacci apron, it was not totally broken. The price is moving within the horizontal borders of the channel, within 23.6 and 38.2 points in the Fibonacci long-term correction terms.
The price will likely slide up within the rising Fibonacci apron channel (between 38.2 and 50.0 levels).
