False Breakout of descending channel?

Hi Folks:

I am updating this idea on GBP USD. So far it has broken a resistance and probably the descending channel from June till now. There is another descending channel as well to take into consideration.

Current uptrend movement has been slightly above the average swing range so my guess is that we are not far from a correction or reversal.

I will consider this idea a total fiasco above 1.37, in the meantime business as usual and let's see how the shorts plan to take control of the situation.

Today's FED Powell comments didn't help either the USD.

STAY SAFE. Cheers.

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