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GBPUSD Channelling in a Contracting Triangle

FX:GBPUSD   BRITISH POUND / U.S. DOLLAR
45 1 2
This pair is holding the upward trendline from mid April             . Since mid June however, we have put in a downward channel . Both of these have held. Look price action as we near the top of the channel. This area coincides with the .382 and horizontal resistance (red line). A break of this area will put in focus the top of the triangle. A touch of the top of the triangle would also be point e if you're an elliott wave person, in which would look for a downward break of the wedge in a more immediate fashion.
lovelly
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