GBP/USD: within downward channel

Forex analytics: Current trendLast week, the GBP/USD pair was supported by favorable UK Retail Sales data and growing demand for the GBP due to a sharp fall of the EUR/GBP cross-pair. However, the price failed to consolidate above the key resistance level of 1.5500 and started declining amid positive US labor market statistics. The pressure on the pair grew when the US released strong Manufacturing PMI.No ...