GBP/USD has been trapped sideways in the short term. The bias is still bullish, the pair could resume its growth after the current sell-off. It could come back down maybe to retest the 1.4093 level and the uptrend line.
It could increase as long as it stays above the uptrend line. Dropping a little could help us to catch a new upwards movement. Also, the rate could indicate further growth if it jumps above 1.4181 former high.
Trading Conclusion!
GBP/USD could start increasing again if it stays above the uptrend line. It could approach and reach it before jumping higher.
The material has been provided by InstaForex Company - www.instaforex.com