GBPUSD Daily Analysis – April 23, 2020

GBPUSD stays in a bearish price channel on the 4-hour chart and remains in the downtrend from 1.2647. As long as the channel resistance holds, the downside movement could be expected to continue and next target would be at 1.2164 support, followed by 1.2000 area. On the upside, a breakout of the channel resistance would suggest that the downside movement had completed at 1.2246 already, then another rise towards 1.2600 could be seen.

GBPUSD 4-hour chart