FX.co ★ GBP/USD

Hello traders. GBPUSD. Good day. Pound/dollar ended the current week with a bullish candle, while the pair entered the bullish zone of the Bollinger Channel on the weekly timeframe. Therefore, the options for opening short positions remain questionable, although I am considering this scenario in the local perspective. On the hourly chart, indicators currently do not show anything specific, pointing in different directions, but the pair closed in the bearish zone. If it confirms here, we may expect a slight decrease on Monday with an approximate target of 1.3440-50 in the short term. On the 4-hour chart, indicators also support further upward movement, but the pair closed on a test of the middle Bollinger from above. Depending on a breakout or bounce, the next direction will be more accurately determined. Overall, I am leaning more towards a breakout and decline scenario, but in any case, I will wait for the test results.