GBP/USD is likely to increase, thanks to growing risk appetite, strong data on jobless claims and good wage level in the UK. A noticeable local growth is very plausible.
Technical picture:
The quote is currently above the upper line of the Bollinger indicator, above the SMA 5 and SMA 14. The relative strength index (RSI) is also above 50% and is growing steadily, while the stochastic indicator is in the overbought zone and is indicating a likely slowdown of growth.
Possible dynamics:
A consolidation above 1.2385 may lead to a limited growth to 1.2480.
