FX.co ★ GBP/USD

Hello traders. GBP/USD. Pound/dollar continued its northern march yesterday, although I expected bears to be more active and take the initiative into their own hands. At the moment, there is still a possibility of a downside move for the clumsy ones, although it is advisable to wait for more complete confirmation from the technical aspect before opening short positions, as there is currently no clear signal. On the hourly chart, indicators remain biased towards further upside movement, but a new buy signal has not been activated yet. The pair continues to test the middle Bollinger Band from above, unable to break through it so far, but the rebounds are becoming less active. Additionally, the basement indicators have shown bearish divergences hinting at a potential downside scenario, so there is a chance of a downward move within the day with an approximate target of 1.3580-90 in the local perspective. On the 4-hour chart, indicators also fully support further upside movement, but one of the basement indicators has already stopped supporting the bearish sentiment, and the Bollinger Band channel has shifted hinting at the end of the upward impulse and the beginning of a local correction aiming to test its upper middle. Among other things, there was a close above the extreme Bollinger Band, followed by another local rise, and now the pair still has debts to settle on the south side, which would be good to reclaim in the near future.