GBPUSD remains in uptrend from 1.2589

Franco Shao ForexCycle.com

GBPUSD remains in uptrend from 1.2589, the pullback from 1.3125 could be treated as correction of the uptrend. Deeper decline to wards the bottom trend line of the price channel on its 4-hour chart is possible in a couple of days. As long as the channel support holds, the uptrend could be expected to resume, and another rise to test 1.3200 resistance is still possible. Key support is at 1.2811, only a breakdown below this level could signal completion of the uptrend.

Interested in GBPUSD technicals? Check out the key levels

1. R3 1.3033
2. R2 1.3022
3. R1 1.3014
PP 1.3003
1. S1 1.2995
2. S2 1.2984
3. S3 1.2976

Author

Franco Shao

ForexCycle.com

Franco Shao is founder of ForexCycle.com - a website that focuses on market trend and data analysis of the financial markets, especially for foreign exchange trading. It was established in year 2005. Franco has rich experience in the industry.

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