GBPUSD Nearing 50% Fib Retrace of Jun-Sep Slide

The GBPUSD is consolidating going into today’s European morning, but appears to have a bit more upside before bumping into upchannel resistance (on the 4hr and daily chart). Significantly, after the strong bounce off downchannel support (on the weekly chart), the GBPUSD is likely going to spend next week digesting the rebound to the same downchannel’s resistance coinciding with the 50% Fib retrace of the June to September slide…