GBPUSD Daily Analysis – March 28, 2017

GBPUSD continued its upward movement from 1.2109 and the rise extended to as high as 1.2615. 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 1.2700 area. Key support is now at 1.2469, only break below this level will indicate that the uptrend had completed at 1.2615 already, then the following downward movement could bring price back to 1.2200 area.

GBPUSD chart