GBPUSD Daily Analysis – August 25, 2017

GBPUSD stays in a bearish price channel on its 4-hour chart and remains in the downtrend from 1.3267. As long as the price is in the channel, the downside movement could be expected to continue and next target would be at 1.2750 area. On the upside, a clear break above the channel resistance could bring price to test 1.2916 key resistance, only break above this level could signal completion of the downtrend.

GBPUSD 4-hour chart