GBP/USD has been consolidating throughout December after rallying to 1.3550. The 4H chart below shows the triangle. $GBPUSD 4H Chart(click to enlarge)Bullish Bias:- A triangle reflects a market that is essentially trading sideways with less and less volatility.- However, there is some bullish bias here. 1) The prevailing trend in the 4H chart is bullish before GBP/USD started consolidating into the triangle.2) The RSI has tagged above 70, but has not pushed below 30. This shows lack of bearish momentum.3) Price has held above the 200-period simple moving average, and is now back above the 100- and 50-period SMAs as well.- Look for price to push towards 1.3460. - I would anticipate some resistance here. But if price can hold above 1.34 for the most part, the pressure should continue to build upwards.- A break above 1.3470 opens up the 1.3550 high with the prospect of continue higher, and extending the prevailing uptrend.