FX.co ★ GBP/USD

GBP/USD. Good afternoon. Yesterday GBP/USD spent the whole day practically in a sideways range, trying to develop both bullish and bearish sentiment. As a result, today the pair still remains within yesterday’s range, so for now I’m watching from the sidelines. Technically, on the hourly chart the indicators have drawn a sell signal, but it hasn’t been activated here, just like the previous signal, which was formed and then canceled without activation and without being worked out. At the same time, the Bollinger Bands continue to hint at movement within the bands in a fairly narrow sideways range. But by the textbook: there was a downward impulse, now we have a local consolidation, there should be another downward impulse, with the next target at 1.3215-20 in the short term. On the 4-hour chart the indicators still point to further decline, so I consider selling as the higher-priority option for myself. And on the latest bullish candles the Bollinger Bands have started to narrow sharply, which does not confirm the development of a northbound move. However, the lower-window indicators at the moment do not support the bearish sentiment, although they do not cancel it either.