FX.co ★ GBP/USD

GBP/USD. Good afternoon. Yesterday GBP/USD still couldn’t develop a bearish mood; on the news the bulls rather briskly took control of the pair and pushed it up. But it’s still too early to talk about the development of a bullish trend at this point, although there are also no technical reasons to open short positions right now. On the hourly chart, the indicators are fully in favor of further movement to the upside, although one of the lower-window indicators no longer supports the bullish sentiment. But it doesn’t cancel it either, so for now I’m watching from the sidelines. On the 4-hour chart the indicators don’t show anything specific, they are pointing in different directions, and the Bollinger channel hints at a scenario of movement within its bands. The pair has bounced off the upper band, so I expect a move toward the lower one, roughly 1.3340–45 in the short term. At the same time, one of the lower-window indicators is currently showing complete uncertainty regarding the direction of further movement.