On the GBP/USD daily chart, bulls came closer to the 88.6% level of the last descending wave and to the 88.6% target in the “Shark” inverted pattern but failed to stay in the convergence zone for a long period of time.
After that, bears managed to test the diagonal support in the form of the lower boundary of the rising trading channel.
On the GBP/USD hourly chart, quotes are testing the lower boundary of the upward sloping trading channel.If they manage to test the important level at 1.254, there will be a correction towards 1.241, or lower.
Recommendation: SELL 1,254 SL 1,2595 TP 1,241.
Origin: FX BAZOOKA
