Down quickly but then rebounds quickly. It happened on Tuesday and Wednesday yesterday (19 & July 20). This time the GBP/USD traded above the Cloud on Ichimoku H1 time frame with the dynamic level Tenkan-sen H1 is now moving above Kijun-sen H1.
Not only that, level the balance of Kijun-sen H4 (green line) is currently lower below Kijun-sen H1 (blue line). This condition generally tend to be bullish in the short term risk. However, we recommend that you wait for the break above 1.3257 to reasonably response sellers if there (whether it's spike's upper shadow candle/pinbar, bearish engulfing or bearish candle), and then just started looking for opportunities to buy position when one to two H1 candle (candle bullish) closed above the level of those prices.
On the upside, above 1.3257 potentially targeting resistant intraday 1.3274/1.3313 and 1.3336/60, or even higher.
To anticipate the downside side, just break and closing price below trendline support and minor below Kijun-sen H4 (1.3188) that can break the trend bullish short-term intraday scale (I myself would prefer to start looking for a sell position short term when this scenario happens). Under 1.3188 could pave the way to test the support level back and 1.3132 1.3063.
Overall in the scale Daily or mid/long-term, the pound sterling was still in outlook is bearish against the dollar. Short term upside corrective/medium so far limited by resistant 1.3481/1.3533 area (looking for a sell position of the medium-term will be more attractive when the price moves up towards this resistant range with attention to the price action of the Daily time frame). Meanwhile, prices traded above the support level 1.3000/1.3063 apparently still will keep the short-term consolidation phase/medium after rebounding from Low 1.2795.
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