The GBPUSD on the 3H chart is moving within a clear ascending channel where the price has respected both the upper and lower trend lines across five key waves of structure. The market has recently touched the lower boundary around wave five which indicates strong support and a possible reversal point. This technical setup suggests that buyers may step back in and push the pair higher toward the upper boundary of the channel. As long as the support holds and no major breakdown occurs the overall bias remains bullish with potential continuation to the upside in line with the broader channel trend.
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