FX.co ★ GBP/USD

Hello. On the four-hour chart of the GBP/USD currency pair, we are currently seeing a bullish four-hour correction within the day, after the bears once again failed to break below the Murray 1/8 reversal level (1.3458). However, we can observe that the medium-term four-hour trend in this currency pair is bearish, so I believe that after the completion of the current short-term correction, the decline of the British pound against the US dollar will continue. I hope for the completion of the bullish correction around the bottom of the Murray regression channel 3/8 (1.3519) with a subsequent decline towards the main support in the current trading range of Murray 0/8 (1.3428).