GBPUSD Daily Analysis – November 15, 2016

GBPUSD remains in uptrend from 1.2082, the fall from 1.2673 is likely consolidation of the uptrend. Near term support is at the bottom of the price channel on 4-hour chart, as long as the channel support holds, the uptrend could be expected to continue, and next target would be at 1.2800 area. Key support is at 1.2350, only break below this level will indicate that the uptrend had completed at 1.2673 already, then the following downward movement could bring price back to 1.2000 area.

gbpusd chart