Today was all about EUR/USD and other pairs including Cable received little attention from the traders/wires.
But let us have quick look at GBP/USD hourly chart
- A bullish break from the flag indicates continuation of the corrective rally that began from 1.3835.
- Prices took out 1.4284 (which was the level where we had noted price-RSI divergence earlier this week)
- Hence, the pair is now buy on dips.
- I would not mind hitting the buy button around 1.4252 for a target of 1.4330