The GBP/USD pair is trading in a symmetrical triangle pattern on a 4 hour time frame. In terms of ranking these patterns are not very well respected due to the failure rate of their completing the pattern’s projections and their reliability in breaking in a specific direction. However, they usually break in the direction of the trend, and in this case, we have side way pattern, which makes it more difficult. Nonetheless, as the price is trading below the 50 day moving average, so the direction is towards the downside.
The RSI and the MACD- the momentum indicators are trading in line with the price action which means that the bias is towards the downside