The GBP/USD pair has made a bullish reversal after touching the lower boundary of the long-term downward sloping wedge. There is more upside to be expected towards 1.5280, but traders should now be very cautious as we are mid-range between support and resistance.
In the 4-hour chart, prices have entered the Ichimoku cloud turning short-term trend to neutral from bearish. Short-term support is found at 1.5080 and below that at 1.5030. Resistance is seen at 1.5170 and next at 1.5280.