FX.co ★ GBP/USD

GBP/USD. Good afternoon. The pound/dollar made a pretty good move to the south yesterday, and today the bears still retain control over the pair, so I’m watching for the possibility of a new downward wave. But it’s still a bit early to open short positions; we need to wait for more complete confirmation from the technical side. On the hourly chart, the indicators continue to point south, but the pair has now approached a test of the middle Bollinger band from below as part of a correction. So depending on whether it breaks through or bounces off, we’ll see a clearer indication of the further bias. I’m leaning more toward the option of a bounce and a decline to about 1.3300-10, but it’s better to open short positions based on the results of the test. On the four-hour chart, the indicators have also already formed a full-fledged sell signal, so there is a chance to continue moving down in the medium term as well. Moreover, here the Bollinger channel on the last bullish candles has started to narrow sharply, which does not confirm the development of a bullish bias.