The GBP/USD has rallied sharply into some critical technical resistance. A break above 1.5200 would be bullish, but as long as we hold below, the channel is in play. See Below:

 

Blake Morrow

Chief Currency Strategist, Wizetrade

 

Disclaimer: I just entered a GBP/USD short based on this chart. However, if it breaks 1.5200 on a sustained basis I will likely cover the short for a loss.