GBPUSD Daily Analysis – April 12, 2019

GBPUSD stays in a triangle pattern on the 4-hour chart. As long as 1.2960 support holds, the price action in the triangle could be treated as consolidation for the uptrend from 1.2396 (Jan 3 low), a breakout of the upper border of the pattern could signal resumption of the uptrend, then next target would be at 1.3400 area. On the downside, a breakdown below 1.2960 support would indicate that the upside movement had completed at 1.3381 already, then deeper decline to 1.2800 area could be seen.

GBPUSD 4-hour chart