DeGRAM | GBPUSD rebound in the channel

GBPUSD is moving in a descending channel between the trend lines.

Price is moving from the lower boundary of the channel and dynamic support, and is now above the 50% retracement level of the rebound correction.

The chart is maintaining a downward structure.

At the current moment, the pair's chart looks bearish, but is clearly preparing for a reversal, for which a rising bottom is yet to be formed.

We expect the rebound to continue if GBPUSD forms a rising bottom and consolidates above the 50% retracement level.

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