GBPUSD broke bellow the bottom of the price channel on 4-hour chart, indicating that the uptrend from 1.1986 had completed at 1.2673 already. Deeper decline would likely be seen in a couple of days, and next target would be at 1.2200 area. Near term resistance is at 1.2600, only break above this level could trigger another rise towards 1.2800.
