The GBP/USD is still bullish but the lack of momentum might provide some profit taking and the price could drop. However, T-89 pattern might still give the price the bullish outlook.
The price is still above 1.2800 which indicates bullish strength. However, due to general lack of momentum in the FX markets, the price is mostly ranging. If the price manages to hold above 1.2800 we should see upwards continuation towards 1.2856, 1.2873, 1.2911 and 1.2950 as the final target. However, a drop below 1.2795 could go for 1.2730 and 1.2680.
The analysis has been done with the CAMMACD.MTF template.
For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.
Many green pips,
Nenad Kerkez aka Tarantula FX