FX.co ★ GBP/USD

Hello traders. GBP/USD. Yesterday, the pound/dollar continued to try to develop a bearish sentiment, and today the bears are not lagging behind. However, it is still unclear whether they will manage to break through the former trend resistance, now turned into support. But I am increasingly considering this scenario. On the hourly chart, the indicators are still pointing towards further movement to the south, but a sell signal has not been activated here, just like several previous signals that were formed and canceled without activation, not to mention follow-through. This behavior is typical for a sideways trend, which is what we are currently observing on the chart. Therefore, intraday, we may either break the line and go down to around 1.3670, or remain sideways and move towards 1.3835. On the 4-hour chart, the indicators continue to point towards further movement to the north, but the pair is actively testing the middle Bollinger Band from above. It has not managed to break through yet, but there is also no clear rejection. Overall, it is still premature to say that the situation is shifting in favor of the bears, so I am only looking south as a part of my "wishful thinking". In any case, I will wait for more complete confirmation from the technical analysis.