Also on my watchlist is GBPUSD, together with other USD pairs on watch as well.
We can see from previous forecast and analysis, price formed that ascending channel, and a clean impulse down from it.
However, price didn't break the lows and continue, instead a reversal up, and form into an expanding structure.
We can then see a double tops, and bearish reversal price action in the making.
Wait for a consolidation to form after an bearish impulse down from the smaller ascending channel, and wait for continuation correction to confirm the downside.
Look for previous swing lows as potential target if price does commit to the downside