GBPUSD first - fall, next - growth

10 дек. 2020 г.

The price has passed the first step towards the target that I set in the previous chart.
After the breakout, it rolled back to the support line 1.338.

Globally, the price has been in an upward channel since 2016

But the traffic was not constant in the channel.
The last channel breakdown occurred during the peak of the Covid-19 pandemic in March of this year.
But already in August, during the uptrend (channel), the price returned to the growing channel.
Recently, it approached the zone of intersection of the resistance lines of both channels - 1.357 and began to fall.
In my opinion, the price will first fall to the support line of the lower channel 1.311
Then it will rise to the resistance line. The target is 1.357.

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