GBPUSD’s upside movement from 1.2195 extended to as high as 1.2989. As long as the price is above the rising trend line on the 4-hour chart, the upside movement could be expected to continue and next target would be at 1.3150 area. On the downside, a breakdown below the trend line support would indicate that the upside movement had completed at 1.2989 already, then the following downside movement could bring the price back to 1.2550 zone.
