GBPUSD Daily Analysis – December 27, 2018

GBPUSD broke above the falling trend line on the 4-hour chart, suggesting that the downtrend from 1.3174 had completed at 1.2475 already. Further rally would likely be seen and next target would be at 1.2850 area. Near term support is at 1.2606, only a breakdown below this level could trigger another fall towards 1.2475.

GBPUSD 4-hour chart