FX.co ★ GBP/USD challenging upside obstacle

GBP/USD Down Channel!

The GBP/USD pair is trading at 1.2719 at the time of writing. As you can see on the H1 chart, the rate dropped within a down-channel pattern. So, if it stays below the downtrend line, the pair could drop again.

It has climbed as much as 1.2745 today but now it has retreated a little. Technically, today's high represents an upside obstacle.

GBP/USD Trading Conclusion!

Jumping and stabilizing above 1.2745 activates a larger growth and is seen as a buying opportunity.