GBPUSD Daily Analysis – December 9, 2016

GBPUSD broke below the bottom of the price channel on 4-hour chart, indicating that the upward movement from 1.2302 had completed at 1.2774 already. Deeper decline could be expected in a couple of days, and next target would be at 1.2450 area. Resistance is at 1.2700, only break above this level could trigger another rise towards 1.2900.

gbpusd chart