This post is purely based on technical wave and trend analysis and does not take into consideration any news or fundamentals. So, please do your own research.
We first start with the weekly chart, the signal curve of the MACD on weekly chart is still slanting upwards suggesting that gbp/usd can range higher to 8880 / 8890 levels, even though the daily charts talk about weakening of the trend.
Weekly chart and Daily chart given below.
We first start with the weekly chart, the signal curve of the MACD on weekly chart is still slanting upwards suggesting that gbp/usd can range higher to 8880 / 8890 levels, even though the daily charts talk about weakening of the trend.
Weekly chart and Daily chart given below.
Attached Images