GBP/USD (cable): short-term growth pending

As it can be inferred from the 8H timeframe chart, the price has formed a double bottom pattern on a strong level of support. Considering the fact that after an impulsive move, a correctional one is needed, we are expecting for the price to keep rising and reach the area of the STF LL as plotted on the graph to compensate for the massive bearish drop that has occurred.