FX.co ★ GBP/USD

The currency pair GBPUSD is correcting against the descending channel of the four-hour timeframe. The correction paused without reaching the 38.2% Fibonacci level at a price of 1.35412. I expect a slight decline to the 23.6% level at a price of 1.35005 in order to continue the correction towards the 50% Fibonacci level at a price of 1.35743. There, the price may test the upper trend line and reverse back to the south. If the pair surpasses the levels of 1.35412 and 1.35, then I anticipate further decline to the local minimum of 1.34347.