GBPUSD Downtrend

After a big drop, price started to rest in the ascending parallel channel, and as you see, currently it is facing a strong bearish pressure.

MACD shows a negative divergence: although price has made a lower high, MACD has made a higher high which indicates a downside move for the future.

I expect a drop on GBPUSD towards the channel’s lower level, and if it breaks the channel’s lower band, the next target would be around 1.23