Dear traders, we can see the formation of a rising channel in GBP/USD in the 4Hour chart. If you see the chart, we can see that there is a big bearish impulsive candle after touching the upper trend line of the rising channel.
So, if this set up holds, expect GBP/USD to fall further and reach 1.2450. Therefore, sellers can take advantage of this and consider potential short trades in GBP/USD