GBPUSD Daily Analysis – August 27, 2019

GBPUSD broke below the rising price channel on the 4-hour chart, suggesting that the upside movement from 1.2014 had completed at 1.2293 already. Further decline would likely be seen and next target would be at 1.2060 area. Resistance is at 1.2293, above this level could take the price to 1.2400 zone.

GBPUSD 4-hour chart