FX.co ★ GBP/USD

GBP/USD. Good afternoon. The pound/dollar closed last week with a bearish candle, but its close is practically at the open level. In other words, a doji on the chart, and a second one, which indicates continued uncertainty about the direction of further movement. However, on the weekly timeframe chart it can be seen that the pair is moving in a long-term sideways range and is now at its lower boundary. So at the moment I'm eyeing a move to the upper boundary, roughly 1.3600-1.3700. On the smaller-timeframe technicals, on the hourly chart the indicators canceled the buy signal toward the close, but still haven't printed a sell signal. At the same time the pair began hovering around the Bollinger middle, so whichever zone it takes here, we will most likely head that way. But I'm more inclined toward a move north, with an approximate short-term target of 1.3270-1.3275. On the 4-hour chart the indicators continue to look south, but here there is also a sideways movement within the Bollinger Bands, the pair bounced off the lower band, so for now I expect a move to the upper band, which coincides with the above-mentioned target, and then we'll see.