GBPUSD continues to form an uptrendDear traders! GBP/USD edged lower on Thursday amid increased USD-inspired buying interest. The mixed technical setup warrants some caution before positioning for deeper losses. Before the weekend as long as the daily close above the 1.2800 mark will set the stage for a further upward move.
In the short term, GU is likely to gain further upside but a close below 1.2800 GU will likely see a correction on the upside-supported base to consolidate and establish the uptrend ahead as it rallied to 1.2900 as expected.