GBPUSD Daily Analysis – May 2, 2017

GBPUSD is testing that support of the ascending price channel on 4-hour chart. As long as the channel support holds, the uptrend from 1.2756 could be expected to continue and further rise to 1.3100 area is possible. However, a clear break below the channel support could signal completion of the uptrend, then the following downward movement could bring price to 1.2800 zone.

GBPUSD chart