On the GBP/USD H4 chart the market has been carving a descending channel since the June‑3 high near 1.345‑1.346. The last three candles have closed below the 1.3420‑1.3425 pivot, with the most recent bar forming a lower‑high (1.34334) and a lower‑low (1.34245), confirming a bearish bias. Volume has been tapering; the bullish surge on June 12‑13 was backed by a spike to over 32k contracts, but the subsequent pull‑back to 1.342‑1.340 was accompanied by modest volumes (4‑7k). The lack of buying pressure on the break of the 1.3425 resistance suggests sellers are in control. With the price now testing the…

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