Timonrosso

GBPUSD Downside to come in the channel still

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OANDA:GBPUSD   Brittiska pund/Amerikanska dollar
Strong down channel is dominating the GBP/USD, bringing the pound lower.
We are also seeing lower RSI highs which is confirming the bearish momentum.
My first target is to 1.0519.
Notice, I don't expect the price to reach recent lows. and the reason is because, it just might be the solid support needed for the pound to bounce up from here.
First a tick up, then down and then let's see what happens to the channel.
Currently we are still bearish..

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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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