GBPUSD Daily Analysis – May 23, 2017

GBPUSD remains in uptrend from 1.2365. As long as the pair is in the ascending price channel on 4-hour chart, the uptrend could be expected to continue and further rise to 1.3100 area is still possible. Near term support is at the bottom of the price channel, and the key support is at 1.2844, only a breakdown below this level will indicate that the upward movement had completed at 1.3047 already, then the following correction pullback could take price back into 1.2700 zone.

GBPUSD chart