GBPUSD Daily Analysis – August 20, 2019

GBPUSD stays in a rising price channel on the 4-hour chart and remains in the short term uptrend from 1.2014. As long as the channel support holds, the upside movement could be expected to continue and next target would be at 1.2249 resistance. On the downside, a breakdown below the channel support would indicate that the upside move is complete, then another fall towards 1.1950 could be seen.

GBPUSD 4-hour chart