GBP/USD Is Still Consolidating

GBP/USD spent the entire week consolidating and it looks like we will have to wait at least until next Monday for that to end. The pair has been testing the resistance at 1.4950, which coincides with the (89) MA on the four hour filter chart, for the past few days and I think it might break above it next week. Should it do so it will probably reach target 1.5280 sooner or later. That said, I think the move to the upside is temporary and the pair will continue its descent once the correction is over.