GBP/USD potential bearish flag pattern

1 thg 6, 2020

The cable formed a nice double top around 1 month ago resuming the downwards trend. Since mid May it has been trading in this upwards channel but it is now reaching the 0.618 fib level and a key support/resistance which could see it form a nice bearish flag pattern. I know that most traders are long on GBP at current so this is a controversial idea. Hopefully with the amount of USD fundamental news and the NFP's at the end of the week there will be some nice volatility. Any feedback would be appreciated - Thank you