GBPUSD Daily Analysis – May 10, 2017

GBPUSD stays in the rising 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. Near term support is at the bottom line of the channel and the key support is at 1.2831, only a breakdown below this level could signal completion of the uptrend.

GBPUSD chart