GBP/USD Trading in Uptrend Channel - Will it Fall Off?

GBP/USD Trading in Uptrend Channel – Will it Fall Off?

GBP/USD has been trading in an uptrend channel since mid March. However, fundamentals are weighing heavily on the pound, which has already fallen from its highs.

If the pair were to lose the uptrend channel and support around 1.52, we could see an accelerated move towards 1.50 at first and perhaps towards the 1.48 bottom later on.

Here is an image of the channel, followed by a live chart. How will this evolve?

For more on the pound, see the GBP/USD Forecast.

GBP/USD Could Fall Off Uptrend Channel by forexcrunch on TradingView.com

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile

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