The GBP/USD chart on a daily time scale highlights the price/volume trendline of the exchange rate drifting within a structured downslope channel. The GBP/USD 1.2995 has acted as support for the British Pound, meanwhile, the exchange rate price has drifted above the IKH Tenkan line, as a starting trend reversal buy signal, while in fact, approaching the 50 Fibonacci retracement level. The MACD oscillator also starts to provide a buy signal from oversold levels, thereby the GBP/USD exchange rate price/volume line should proceed in drifting toward GBP/USD 1.3315, Kijun Line and Middle channel line, where up drifting price/volume GBP/USD will test the IKH A/B Senkou cloud exchange rate GBP/USD 1.3447 level. Technical indicators should be indicative of the near term GBP/USD exchange rate levels, where GBP/USD 1.3570 could be the high in the near term, unless other factors would determine further upside.
