GBPUSD (1.3522): GBPUSD has been seen consolidating after price touched highs of 1.3566. The consolidation in price action suggests a bullish flag pattern that has formed. A range has also been established with support at 1.3483 and 1.3589. A breakout from this level will suggest further direction in the currency pair. The bias is for an upside breakout. This will potentially suggest further gains to come with the price likely to target 1.3670 followed by 1.3830. In the event that the bullish flag fails, we can expect the downside to test 1.3236.
