GBPUSD Medium Term Outlook

Cable has now posted 5 successive weekly positive performances and signals for sentiment are overstretched. We still hold an upward bias but with 1.6081 making a bearish Gartley pattern (78.6% pullback from 1.6282-1.5268), risk / reward is not considered ample to trigger a buy trade. We prefer to monitor price action before we call the next signal.