GBP against Dollar pair have moved between 1.40 and 1.38 for almost a month and neither up or low seen beyond this price limits, and expect the same this week also , and it formed a triangle pattern towards end of the month..
Analysis only for education purpose
a clear divergence have been formed between market trend MACD indicator which indicates a strong reversal of trend as market has been consolidated for a long time on pivot point
any break could cause a good fall for sterling with a target of 1.2778,1.2699 and 1.2564
alternate scenario any break above 1.2989 may continue the buy trend