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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?

GBPUSD Trading in Uptrend Channel April 2013 Will it Fall Off

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

GBP/USD Could Fall Off Uptrend Channel by forexcrunch on