GBPUSD broke below the bottom support trend line of the price channel on the 4-hour chart, deeper decline to test 1.2392 support is possible, below this level would indicate that the upside movement from 1.1958 had completed at 1.2581 already, then the pair would find next support level at around 1.2260 area. Near term resistance is at 1.2495, a break of this level could trigger another rise towards 1.2700.
