GBPUSD is facing the bottom support trend line of the price channel on its 4-hour chart. A clear break below the channel support will indicate that the uptrend from 1.2589 had completed at 1.3267 already, then the following bearish movement could bring price to test 1.2811 key support. On the upside, as long as the channel support holds, the fall from 1.3267 could be treated as consolidation of the uptrend, and another rise towards 1.3300 is still possible after the consolidation.
