Comments on the chart. A close below the lower channel boundary invalidates this idea
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Price initially rose and touched 0.8867 before losing all of it and then some now. Disappointing price action. However the idea is still on as it has not broken below the lower boundary yet
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This idea is on the verge of failing. The BREXIT impasse is about to be over (we are led to believe) and this should be positive for GBP. I am not sure it is positive for GBP but you cant argue with the market's perception of any news.
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Price temporarily dipped below the lower channel bur has now risen above it. This could be a typical false break price action which could lead to more upside price action