GBPUSD Weekly Outlook

Looking at the weekly and daily charts there is a lot of bullish momentum on GBPUSD.

The question is, is it the start of a new uptrend or is it just a correction in the current downtrend?

We will wait and see what happens next week.

If price breaks above the current level we will wait for a pullback and buy signal to go long. Otherwise we will look for opportunities to short.