GBPUSD was identified at around 1.297745 having recently rebounded of the support on the 4 hour data interval. Ultimately, the price action of the stock has formed a Channel Up pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 1.3055 level.
A Channel Up has formed, GBPUSD is approaching support. Can we expect a breakout and the start of a new trend or a reversal?
