Weekly technical analysis of GBP-USD

The GBP pair is trading inside an ascending channel on the H4 frame. Prices bounced back a little with the opening of trading this week from the top of the channel's upper leg. We expect a correction down inside the channel to complete the main bullish trend again.

The level of 1.2270 represents the separation point between the sellers and buyers this week, and we advise traders to enter now in short-term selling attributes until the correction within the channel ends by touching the lower side and then entering into purchasing characteristics while maintaining an appropriate stop loss below 1.2270.

General Trend: Major bullish with bearish temporary correction