FX.co ★ GBP/USD

Hello traders. GBP/USD. Good day. Pound/dollar is currently attempting to bounce off the upper boundary of the trend channel, where the pair has been all week. However, the bears are struggling to take the lead and push towards the lower boundary. I am leaning towards a scenario where the pair might decline to around 1.3330-35 in the short term. On the hourly chart, the indicators are still pointing towards further upside movement, but the pair is currently testing the middle Bollinger Band from above. Depending on a breakout or a bounce, it will determine the near-term direction. I am more inclined towards a breakout and a decline, but it is advisable to wait for the test results. On the 4-hour chart, the indicators have also signaled a buy, but it is not yet activated. There is a possibility of movement within the Bollinger Band channel. The pair has bounced off the upper level, so in the local perspective, I expect a move towards the lower level, and then we will see.