GBP/USD Bullish Consolidation

2 min read
tarantula fx

tarantula fx

Head of Trading

The GBP/USD has been contained in a range during the Easter holiday. On Friday and early Monday, the GBP/USD has formed a bullish consolidation.

Banks are on holidays, so the slow-moving price is a regular thing. The GBP/USD has touched the channel bottom and H4 chart shows upside potential Again. We might see a breakout to the upside. Effectively this move would be a counter trend to latest GBP/USD price Action but in general context on 4h it is still a trend (higher lows, ascending channel, MACD bullish). Targets are 1.4080 and possibly 1.4161. We might expect faster price action when the US session starts today and effectively it will mark the start of new month and renewed volatility.

Good trading,
Nenad Kerkez aka Tarantula FX

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