GBP/USD takes rounds to the lowest levels since June 2020 as traders await the UK Q1 GDP during Thursday’s Asian session. In doing so, the cable pair stays inside a one-week-old descending trend channel, flirting with the 1.2250 level by the press time. That said, the support line of the stated channel, around 1.2235-40, joins nearly oversold RSI and sluggish MACD to challenge the GBP/USD pair’s immediate moves. Should the quote bounces back from the latest multi-month low, a convergence of the channel’s upper line and three-week-old descending trend line, around 1.2385-80, will test the rebound. Also acting as an ... (full story)