Good day. GBP/USD moved nicely to the upside yesterday, although I was expecting bears to show more activity. At the moment, it is unclear whether a downside move will materialize. On the hourly chart, indicators continue to point north, and the pair has now approached a test of the middle Bollinger Band from above. Therefore, depending on a breakout or a bounce, the next short-term bias will be revealed. Personally, I lean towards a scenario of a breakout and a decline with an approximate target of 1.3330. However, it is too early to discuss this, and it is advisable to wait for the test results. On the 4-hour chart, indicators also support further upside movement, with the Bollinger Band channel still expanding, indicating a potential continuation of the current upward impulse in the medium term. Nevertheless, basement indicators show bearish divergences with a reverse hint, so I am currently only considering short-term movements.
