GBPUSD is once again facing resistance at the 1.2770 level. If the price manages to break above this resistance, it could potentially test the next resistance level at 1.2827. A successful breakout above 1.2827 would then aim for the top of the rising price channel on the 4-hour chart.
On the downside, the key support level is located at 1.2673. A breakdown below this level could bring the price back towards the 1.2610 support level. If the price continues to decline below 1.2610, it would then target the bottom of the price channel.
