GBP/USD:DOWNTREND| BEARISH CHANNEL |SUPPLY ZONE|SHORT VIEW 🔔

As we illustrated yesterday, the pound is in a long downward trend. We can see this not only from the decreasing lows and highs, but also from the crossing of the 50/200 moving averages on June 21 "Death Cross". In recent sessions we can see a powerful resistance around 1.3780 is limiting the upside potential. The price uses the Fibonacci level of 50% as dynamic resistance and we can see in the chart that in the same area there is a sell zone where sellers have placed their sell orders. We can also notice a divergence in stochastic, present in Oversold.
Our idea continues to be downward given the explanation.

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