Pound Dollar is still under the bulls control

Trading Talks GBP/USD October 29

The situation is still under the bulls control.
The Pound / Dollar tried to reverse the trend this week and broke through the lower boundary of the rising channel. But at the same time, it returned and consolidated at the key level 1.3800. The daily MACD is still bullish, but the situation may change after reaching the key resistance at 1.38315. If so, the market may continue the movement in the horizontal channel from 1.38315 to 1.37100 (resistance displayed by the EMA 200 level). The uptrend was broken, but it is too early to talk about its completion. Despite the fact that the daily trend is declining, reaching the level of 1.39100 looks quite likely if the key 1.38315 is passed confidently.