Home GBP/USD Technical Analysis: Teasing falling channel breakout

GBP/USD Technical Analysis: Teasing falling channel breakout

Published date: 18 Feb. 2019 | 01:32

GBP/USD is currently trading just above 1.29 – the upper edge of the falling channel. A breakout would be confirmed if the current 4-hour candle ends above that resistance and could yield a rally to 1.2959 (Feb. 13 high) and 1.30 (psychological hurdle).

4-hour chart

The bear cross between 50- and 200-candle moving averages (MAs) contradicts the bullish view put forward by the channel breakout. The averages, however, are lagging indicators.

Trend: bullish

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