GBPUSD Daily Analysis – November 22, 2017

GBPUSD stays in a rising price channel on the 4-hour chart and remains in the uptrend from 1.3039. As long as the price is in the channel, the upside movement could be expected to continue and further rise towards 1.3337 key resistance is possible. On the downside, a breakdown below the bottom support trend line of the channel could bring price back to test 1.3130 support. Below this level could trigger further downside movement towards 1.3027. Breakthrough here if seen could signal resumption of the downtrend from 1.3657 (Sep 20 high), then the following downside movement could take price towards 1.2774.

GBPUSD 4-hour chart