GBPUSD Holds Rising Channel — Waiting for a Breakout to 1.3550?GBP/USDOANDA:GBPUSDGoldenPearl_tradHi traders, GBPUSD has been moving fairly neatly within a rising channel on the H1 timeframe since its recent strong breakout. Price has been rejected twice when approaching the upper edge of the channel around the 1.3520–1.3530 zone, and is now pulling back to retest the lower edge of the channel, near the 1.3495–1.3500 zone. As long as this rising channel structure continues to hold, I'm still leaning toward the scenario of price continuing upward. If the lower channel edge holds firm and a buying reaction appears, that would be the signal to expect a breakout above the upper channel edge, heading toward the 1.3540–1.3550 zone. Zone to watch: Lower edge of the rising channel around 1.3495–1.3500 Confirmation: Buying reaction at the lower channel edge, price not breaking the channel structure on the H1 timeframe Target: 1.3540–1.3550 (breakout above the upper channel edge) Invalidation: H1 close below the lower channel edge (below 1.3490), breaking the bullish structure This is not investment advice — wishing you successful trading.