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GBP/USD Technical analysis

Long
British Pound / U.S. Dollar (FX:GBPUSD)  
traderpulse Updated   
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Wave Analysis Descending Channel priceaction retailsales DATA
3
0
trendanalysis waveanalysis descendingchannel priceaction retailsales data
GBP/USD is in a descending channel pattern in the 1-hour chart.
On reaching its supportive trendline it bounced off with a strong bullish engulfing candle.
Hence we expect the pair to race towards the resistive trendline.
Trade closed: target reached
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