GBPUSD: long-term downtrend

GBPUSD is edging up to 1.540 after yesterday’s piercing candle.
Next week: the rally may stall, given the longer-term downtrend.

GBPUSD has been trading in a bullish parallel channel since the beginning of this year, in the chart below you can see downward sloping (look like-falling wedge & bear flag) trend lines.

Stop loss if price breaks above 1.550
See older post >>> GBPUSD: sell set up