GBPUSD falling in channel

2020년 11월 17일

As I said last time, after reaching the resistance line at 1.327, the price began to fall.

Now we can assume that the price has started to form a movement in a small descending channel.

There have already been at least 4 touches of the channel lines - resistance and support.
Since the price increased very much before entering the channel (from November 3 to November 10, it practically did not make rollbacks).
Now we can assume that the price will fall. I doubt the drop will be sharp.
Moreover, this channel is already visible on the chart.
Therefore, now I expect the price to drop to the support line at 1.304 to begin with.

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