GBP/USD (Short)

GBP/USD has reached a level of resistance which appears to be quite significant on both the 4 hourly and daily time frames. Price action seems to be following a bullish channel with price action currently residing at the top of said channel. Price action has slightly deviated away from its 50 EMA on the hourly, 4 hourly and daily time frames, indicating that there is potential for a bull back to the downside.