GBPUSD broke above the top of the price channel on 4-hour chart, indicating that the downward movement from 1.2774 (Dec 6, 2016 high) had completed at 1.1986 already. Further rally could be expected over the next several days, and next target would be at 1.2650 area. Support levels are at 1.2180 and 1.1986, only break below these levels could trigger another fall towards 1.1900.