GBP/USD: upside bias

The GBP/USD is consolidating with a bias to the upside. My preference is for a missing wave higher to re-test the 1.5909 highs, with a break above the 1.5855 level providing some confirmation. Alternatively, the top of a, sort of, head and shoulders may have formed on the hourly chart with a neckline at 1.5800, which if broken could lead to a possible move down to support at 1.5755.

Written by Forex4you