FX.co ★ GBP/USD

GBP/USD. Good afternoon. Yesterday GBP/USD tried to develop a bullish mood and even updated the local high, but the pair closed the day with a bearish candle. So the bears still hold the initiative in their hands for now, but it’s still a bit early to open short positions at the moment. On the hourly chart, the indicators have drawn an intraday sell signal, but it has not been activated yet. At the same time, the pair is now at the activation point of this signal, so in the short term there is a chance to move south towards roughly 1.3435-40. But in any case, it’s worth waiting for the formed signal to be activated. Meanwhile, the Bollinger channel is widening, which also hints at the option of developing a downward impulse. On the four-hour chart, the indicators are still looking north, but the pair has approached a test of the middle Bollinger band from above and has climbed into the bearish zone of the channel. It’s too early to talk about consolidation here, but this scenario is already emerging. At the same time, the narrowing of the channel itself does not really confirm further development of the bearish mood, but it doesn’t cancel it either.