GBP/USD: analysts are cautious
Analysts at ANZ think that despite relatively solid GBP/USD price action over the past week, it’s still likely to move sideways. In their view, only a close above $1.5650 would make the near-term prospects bullish. The bears will lead in case of a close below $1.5500 targeting $1.5260/50.
Bank of America thinks that GBP/USD keeps forming a month-long Head and Shoulders top. The pattern will be complete if pound slides below $1.5438/32 targeting $1.5102 and, eventually, $1.4783/1.4767 and lower levels.
Chart. H4 GBP/USD