A bearish channel has been confirmed, and the price has just bounced off the support level of this channel with a massive increase in momentum. I do believe that this currency would break out the top of the channel, this mainly depends on fundamentals. The fundamentals for the GBP are not looking very good due to Brexit and the massive chance the UK have got of leaving with a no deal. This could be very negative for the UK as a no deal Brexit was not very likely and businesses have not prepared themselves for a no deal Brexit. This could cause businesses to move out of London and into other EU member states to decrease the financial impacts this decision may cause. I would keep everyone updated on what is happening with this currency pair over the coming 9months leading to Brexit.