GBPUSD has been trading inside an equidistant channel which supports the uptrend zig zag. The price has been making higher highs and higher lows which is showing us a scholastic example of uptrend. At 78.6 fib – deeper retracement there is a strong confluence with equidistant channel lower trend line so the price might get a bounce in the zone ( 1.5670-85 ) and try another push toward 1.5740 and 1.5780. That being said if the price gets H4 close above cam H4 level ( 1.5780 ) it will target 1.5855 the confluence spot of H5 and upper equidistant channel.
The bullish bias should persist as long as GBPUSD is above 1.5620.
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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