GBPUSD parallel channel

Looking at the graph on the four-hour time frame, we see that the pair is moving in a descending channel. The couple is currently finding support at 1,367,000, and for the second time, we are refusing in the same place. For a stronger bullish scenario, we need a break above MA20 and EMA20. Our target is our top channel line and the zone between MA200 and EMA200 of 1.38000-1.38500. The European session of the pound started positively, and we can expect it to continue further towards the upper resistances on the chart for now. Following the MACD indicator, we see that the blue MACD line is currently above the signal line, and if it stays until the end of the day in that territory, it can expect the pound to be in a bullish trend this week.