FX.co ★ GBP/USD

Hello traders. GBP/USD. Today, the pound/dollar continued its upward movement, although I was expecting the bears to start developing a new downward wave in the medium term. However, there is currently no reason to open short positions. On the hourly chart, indicators support further movement to the north, although one of the lagging indicators has stopped supporting the bullish sentiment. But this assumption is not sufficient to open short positions, so I will wait for more complete confirmation from the technical analysis. On the 4-hour chart, indicators still point south, so I consider selling as a more priority option for myself. However, the pair has entered the bullish channel zone while testing the middle Bollinger Band. It is too early to talk about consolidation here, and the narrowing of the channel does not confirm further development of the bullish sentiment, so I continue to look south as a more priority option for myself, but I am not looking too far ahead. The approximate target is testing the trend support, around 1.3150-60.