GBPUSD Daily Analysis – June 5, 2020

GBPUSD stays in a rising price channel on the 4-hour chart and remains in the uptrend from 1.2073. As long as the channel support holds, the upside movement could be expected to continue and next target would be at 1.2700 area. Near term support is at 1.2500, a breakdown below this level could bring the price back towards the bottom of the channel.

GBPUSD 4-hour chart