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The pair is trying to leave the channel (3/8 - 5/8)

24 July 2015, GBP/USD

The pair is trying to leave the channel (3/8 - 5/8)

4 hours’ chart of GBPUSD.

The pair is trying to leave the horizontal channel (3/8 - 5/8) in which it had been consolidating in recent time.

Staying within the channel was not very durable, so the level of (2/8) is still considered as the target for decline.

This option will be canceled if the price returns and consolidates above the level (3/8), and the current plan will become irrelevant.

Nikolay Krishtopov
FreshForex Analyst
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