GBP/USD technicals Dec 22, 2014

GBP/USD is still trading inside the horizontal channel between 1,5550 and 1,58 of the last weeks. The downtrend of the second half of the year has stopped, but I guess that when the current consolidation phase is over, a downmove is the most likely scenario for the cable.

GBP/USD, 5-hourly candlesticks:

GBPUSD(5 Hours)20141222143605

Chart courtesy of Investing.com. http://Investing.com

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