GBP/USD analysis: Bearish trade with downside bias
In the mid-term, the price has broken through support level at 1.2941. With price below 14, 50, and 100 MA, there is downside bias for now.
Over the long-term, lower directional movement and greater activity is expected. In conclusion, flow direction is up. Greater activity could presage a higher movement, with 3 days net flow at 11. The market ended in non-bracket manner. With increase in volatility, it means more market opportunities. With value area range increasing and total TPO increasing compared to previous day, data points to upside bias.