GBPUSD (1.2855): The GBPUSD currency pair closed bullish last week. The gains came following a doji reversal pattern formed the week before near 1.2740 area. This indicates a potential move to the upside for the GBPUSD. On the 4-hour chart, price action is seen trading alongside the upper trend line of the falling price channel. With the Stochastics showing weak momentum, we expect to see some downside prevail. Watch for GBPUSD to form a potential higher low ahead of further gains. The currency pair could be seen targeting the resistance level at 1.3205.
