GBP/USD: 1-hour
Decision-making time for Cable! The forex pair has sold off so far this week but the mid-channel area of interest appears to be holding as support for the time being. After all, this lines up with the 1.6000 major psychological level, where some sellers probably took profits and a few buyers are looking to jump in. A rally could take GBP/USD back to the top of the channel, which is around the 1.6100 mark, while a drop could lead to a test of channel support at 1.5800. Stochastic seems to be favoring a climb, as the oscillator is moving higher.
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