GBPUSD Channel

Cable failed to complete the bullish flag we spoted a few days ago and has started to move lower touching the 1.5600, on the larger timeframe we can see the pair trading inside a bearish channel and with every support breach came a new low. At the moment GBPUSD was rejected 3 times by an intermediate trendline connecting lower swing highs and that comes to support the move south, those who sold rallies can continue to do so, the rest of us who didn’t perhaps a change of bias is in order.

Cable failed to complete the bullish flag we spoted a few days ago and has started to move lower touching the 1.5600, on the larger timeframe we can see the pair trading inside a bearish channel and with every support breach came a new low. At the moment GBPUSD was rejected 3 times by an intermediate trendline connecting lower swing highs and that comes to support the move south, those who sold rallies can continue to do so, the rest of us who didn’t perhaps a change of bias is in order.

 

[NP][/NP]