GBPUSD 30 m ABCD Channel Trade

Pair is in a current 30 m channel. Is making an ABCD retrace to the top of the channel and then will fall down to the bottom of channel again.

Comment:

I missed where the abcd pattern was but price did do that pattern as it rose to the top of the channel and then broke through it to the 23.6% fib level. It is retracing short off the 23.6% and may fall all the way back to the top of the channel. Price may have failed the bullish move and fall back into the channel or this is just a short term retrace as the market progresses the bullish continuation up to the 0% fib level @ 129.80.