GBP/USD- Trading in a downward channel
The GBP/USD pair is trading in a downward channel on a 30 minute time frame. However, the price is also trading in an upward channel on a bigger time frame which confirms that the upward trend is still in play. The price is trading near the 50 day (shown in green) but below the 100day (shown in yellow) moving averages which means that the bears are taking the control.
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