GBPUSD we are waiting for exit from the channel

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According to yesterday’s post, the British Pound is still moving in the channel that created the flag. During the Asian session, there was an attempt to exit the mountain, but unsuccessful. The course quickly returned to formation.

At the moment we are on the border of the lower part of the flag. The price at this level is supported by recent price peaks, so breaking it will give a positive impulse for a deeper correction. In addition, the data to be released for the pound, on the one hand, better as retail sales are predicted to increase (hard to believe during the protracted country blockades), on the other hand, the “flash PMI” which is the main indicator of the economic condition is forecast to weaken.