GBP/USD Price Analysis: Pound rests in middle of the week's range, bulls in play – by fx_ross GBPUSD Currencies DollarIndex YieldCurve Fed
GBP/USD is approaching a price imbalance on the hourly chart, bulls eye break of 1.1516.
The bulls will be aiming for a break of the trendline resistance and the M-formation could be the catalyst for such a scenario. This is a reversion pattern that would typically see the price retrace to restest the neckline as old support turned resistance. If the bulls commit at this juncture, then a move above the formation will crystalise the bullish outlook for the weeks ahead. The daily chart, however, shows that 1.
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