FX.co ★ GBP/USD

Another week has come to an end, and for the GBP/USD currency pair, there have been no changes in terms of trend, except for the fact that the bulls were able to further confirm the presence of a medium-term uptrend by setting a new local high at 1.3530. Although the price experienced a bearish correction in the last few days of the week, the bulls are ready to continue the upward movement from the current position, as indicated by the four-hour Stochastic turning north. However, there is a small caveat: the end of the correction was not confirmed by the "Zigzag" indicator, which did not mark this event. It was expected to occur during a test of the support at 1.3475, which the bears failed to achieve, even though they touched the specified target. Based on this, a brief decline to the support at 1.3475 can be expected once the market opens. However, after we receive the "Zigzag" indicator confirmation, the British pound's rise against the weak US dollar should continue, aiming to break through the resistance at 1.3550.