GBPUSD Daily Analysis – August 26, 2019

GBPUSD extended its upside movement from 1.2014 to as high as 1.2293. As long as the price is in the rising price channel on the 4-hour chart, the upside movement could be expected to continue and next target would be at 1.2360 area. On the downside, a breakdown below the channel support would indicate that the upside movement is complete, then another fall towards 1.2000 could be seen.

GBPUSD 4-hour chart