GBP/USD Movement

So, many people are wondering where the GBP/USD is going. At DailyFX, you can read here that they think that the GBP/USD may provide a “short-term corrective bounce back towards 1.4700-1.4900 before bearish trend resumption”. Of course, I have said for a week now that the GBP/USD has potentially found a bottom and is heading toward 1.4800-1.5000.

Of course, when this type of thing occurs, there are very large swings to take advantage of. Earlier, I wrote to look for strategic short positions. I still do not show a signal for a more longer-term movement yet, but a chart below shows the current GBP/USD movement up from May 25th. So far, I do not have any signals of it breaking to go short; therefore, I would recommend any long positions along the current uptrend line from May 25th.