• GBP/USD recording back to back long upper weekly candle shadows

• A new trend high of 1.3445 last week but a close at 1.3266

• Possible forming of a bullish continuation pattern

• Weekly Bollingers are beginning to widen: points to increased volatility

• However, daily Bollinger bands are tightening and bullish momentum fading

• Fourteen week momentum increasingly positive but RSI flat at o/b levels

• Mixed signals and tight ranges the theme early in the new week
GBP/USD daily candle chart:

(Peter Stoneham is a Reuters market analyst. The views expressed are his own)