GBP/USD Technical Analysis

GBP/USD has made a higher high
We could see either a move up or breakout below
The price is close to a decision zone
The ATR is lower than usual

H1 CHART GBP/USD

The bottom of the swing
A Higher High
The Decision zone

The GBP/USD has made a strong recovery from 1.3600 zone. We can expect further price movement to the upside before the next big drop if 1.3675 zone holds. 1.3675-1.3695 is the zone where the next move will be decided on. A bounce from the zone should be targeting 1.3735 followed by 1.3762. Below 1.3675 we should be seeing 1.3646 and 1.3620 retest. The ATR is lower than usual which indicates lower target for intraday trades, as explained above. Watch for a move inside the zone and trade it accordingly.