GBPUSD Daily Analysis – December 6, 2018

GBPUSD remains in the downtrend from 1.3174. As long as the price is in the falling price channel on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.2500 area. Only a breakout of the channel resistance would indicate that the downside movement had completed at 1.2658 already, then the following rally could take the price back to 1.3000 area.

GBPUSD 4-hour chart