Expected Strength for the GBP in the Short and Medium Term

The GBP index has rebounded from demand zones on the 4-hour timeframe

and has begun to break the downtrend, as shown on the chart.

If it closes above the downtrend, it is expected that the index

 will continue to rise to the targets specified on the chart,

which are located at 2.7880 and 2.7930, respectively.

A continued rise in the index would mean strength for the GBP against most currencies.

Of course, we have another scenario: a return and close below the downtrend.

This could push the index back down to the specified demand zones,

from which it previously rebounded. 

This would indicate potential weakness for the GBP.