GBP/USD – Sideways to bearish move likely
Friday’s recovery from the low of 1.2214 to 1.2293 suggests the decline from 1.2569 (Feb 24 high) has run out of steam and the spot could go sideways before resuming the downtrend towards 1.2107 (Jan 10 low).
On the higher side, only a daily close above 1.2346 would signal short-term bearish invalidation.
On the higher side, only a daily close above 1.2346 would signal short-term bearish invalidation.
