Weekly technical analysis of GBP-USD

The GBP pair is trading in a negative range after breaking the uptrend and maintaining negativity within the channel on the H4 frame. The pair bounced down after hitting a resistance of 1.2510 and then tested and was unable to breach it until now. Traders are advised to enter short positions inside the channel, specifically below the 1.2510 level and the first target 1,2370 then 1.2090, while maintaining an appropriate stop loss above 1.2510.

Overall trend: bearish negative