If the GBP/USD currency pair breaks out of its range at 1.5160, it will go up around 1.53. The price will break EMA 200 on 8 hour chart, at 1.5254. Other confirmation of uptrend in the medium term is the channel formed until around 1.53.
The daily chart on GBP/USD is correlated with 8 hour chart. According to the MACD on the daily chart, the GBP/USD currency pair will rise in the medium term. When the price reaches EMA 15 at 1.5113, this is confirmation of uptrend. In this case, the GBP/USD will go up until at least 1.5254 where is Fibo 0.50.
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