FX.co ★ dusty24 | GBP/USD

GBP/USD. Good afternoon. The pound/dollar pair still hasn't chosen which way to move next today. Overall, I continue to favor the upside as the higher-priority scenario for myself, but it's probably not worth opening long positions on that assumption — it's better to wait for clearer confirmation from the technical side. Technically, on the hourly chart the indicators have just produced an intraday buy signal, but it is not activated here, and the pair is again trying to return to the bearish zone of the Bollinger Bands. At the same time, the channel itself continues to narrow further, so I expect to see a breakout soon, but I won't guess the direction yet — I'll wait for the situation to develop. On the 4‑hour chart the indicators remain in favor of further gains, and one of the oscillators has already reset, so there is a chance to see a move north practically from the current levels. The first target is 1.3465-70 in the short term, but there's a possibility of moving higher in the medium term. However, it's too early to talk about that yet.