GBP/USD Is Climbing

It seems that the GBP/USD move to the downside is over for now. The pair reached the support at 1.4078 and could not break below that level, forming a spinning top and then a doji candlesticks on the weekly time-frame above the aforementioned support. Unsurprisingly, the pair then moved to the upside and broke above the resistance at 1.4350. I expect a further move to the upside, towards the next level of resistance at 1.4500 – 1.4550. That said, the bearish trend likely is not completely exhausted yet and I think it will probably continue once this correction ends.