GBPUSD - Technical Analysis: Wednesday, 31/05/2017 05:55 GMT

The GBPUSD pair returns to decline after approaching from the previously broken support of the minor ascending channel, to head towards potential test to 1.2706 level, noting that the price awaits a bullish rebound after touching the mentioned level unless breaking this level and settling above it.

The positive effect of the double bottom pattern still valid, and surpassing 1.2905 will stop the current decline and lead the price to rise again.