Is still trapped within an ascending channel, but has failed once again to reach the 150% Fibonacci line (ascending dotted line) and the upside line of this chart pattern. GBP/USD is bullish on the short term and should climb much higher after the breakout above the upper median line (UML), has retested this level.
Maybe the rate needs to recapture more directional energy before will jump much higher on the short term, so we may see a minor consolidation in the upcoming days. We may have a buying opportunity if will come to retest the warning line (wl1) of the minor ascending pitchfork.
