GBPUSD Daily Analysis – May 5, 2017

GBPUSD failed to break below the bottom of the price channel on 4-hour chart and rebounded from 1.2831, indicating that the pair remains in the uptrend from 1.2365. Further rise could be expected and next target would be at 1.3100 area. Key support is now at 1.2831, only a breakdown below this level could signal completion of the uptrend.

GBPUSD chart