GBPUSD stays in the upward price channel on 4-hour chart, and remains in uptrend from 1.1986.

As long as the channel support holds, the uptrend could be expected to continue, and next target would be at 1.2800 area.

On the downside, a clear break below the channel support will indicate that the uptrend had completed at 1.2673 already, then the following downward movement could bring price back to test 1.1986 support.

Editor’s Note: Equity investors/traders can use the Currency Shares British Pound Sterling Trust (FXB, quote) ETF to take positions in the yen without a FOREX account.  The ETF looks to track the price of the British Pound Sterling (GBPUSD), minus ETF fee. The fund seeks to reflect the price of the British Pound Sterling (GBPUSD) with the shares representing a cost-effective investment relative to investing in the FOREX market.

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