GBP/USD could enter into a corrective phase

GBP/USD could enter into a corrective phase

GBP/USD has been taking the flag in favor of the bulls in the short-term, as the price action is showing a strong consolidation above the 50 SMA at H1 chart, which also points to the upwards across the board. A corrective move is expected to take place towards the 200 SMA, where it coincides with the Fibonacci level of 50% at 1.4130, and a rebound could happen in order to resume the bullish bias to test the -23.6% Fibo zone at 1.4374.

RSI indicator remains in the neutral territory, calling for sideways in the short-term.

GBPUSDH1.png

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