The pair continues to consolidate on top of the psychological level at 0,80.
Greetings. Let’s take a look at the GBP/USD hourly chart. As you can see, we’re in a rising channel and we’re currently touching the bottom trend line.
The pair continues to slide smoothly while establishing below 78,00. We might see a corrective move anytime soon given the oversold studies but we hold a bearish bias until proven otherwise.
The Cable has stalled out after a brief attempt above 1,64. For the time being, we consider this move as corrective.
The market has drawn a reversal candle yesterday which might signify the end of the bullish trend at least over the short term.
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