|Resistance and Support||Level||Explanation|
GBPUSD, H4: GBPUSD was traded within a downward channel while recently retraced from the 20-moving average line (red). It is suggested to extend its losses towards the target of support level at 1.2630 in short-term. Likewise, it is suggested to be traded within the downward channel unless a breakout occur at either side of the channel.
Resistance level: 1.2710, 1.2800
Support level: 1.2630, 1.2550