GBPUSD: Descending Channel

GBPUSD, H4

On the H4 timeframe, GBPUSD navigates within an descending channel and currently testing its upper border, near 1.2980 resistance.

The price breaches above the DEMA and TEMA, with the Momentum oscillator crosses the 100-line up, pushing the asset up.

If the price breaches above the trendline, it will rise to 1.3050 resistance;
Conversely, rebounding from the 1.2980 resistance will trigger a decline to the 1.2920.

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Author: Timur Yurdagyul

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