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Bearish trend on GBPUSD


GBPUSD hourly chart seems bearish as descending triangle on the chart shows that the pair might continue its downtrend by breaking the support trend line. The pair is right now consolidating between the two trend lines of the descending triangle. However the US data may also push the pair to reverse the downtrend. If the data is strong the pair will continue its downtrend and if the data is strong the pair will reverse the downtrend to uptrend and break the resistance trend line. US core CPI and Unemployment Claims data will be coming out at 8:30 AM EST.