GBPUSD Daily Analysis – May 8, 2017

GBPUSD stays in the ascending price channel on 4-hour chart and remains in uptrend from 1.2365. As long as the pair is in the channel, the uptrend could be expected to continue and next target would be at 1.3100 area. Key support is at 1.2831, only a breakdown below this level will indicate that the uptrend is complete, then the following downward movement could bring price to 1.2600 area.

GBPUSD chart