GBPUSD broke below the rising price channel on the 4-hour chart, and is now facing 1.2886 key support, a breakdown below this level would confirm that the upside movement from 1.2768 had completed at 1.2985 already, then further decline towards 1.2750 could be seen. On the upside, as long as 1.2886 support holds, the price action from 1.2985 could be treated as consolidation for the uptrend, one more rise to test 1.3012 resistance is still possible.
