Brahney has been missing since the reformed Manchester band's gig in Heaton Park on June 29.
According to the BBC, police were called to the canal near Media City, Salford Quays, shortly before 09:35 BST today.
A post-mortem examination is due to take place tomorrow (July 10).
The 22-year-old became separated from friends at the gig and lost his phone.
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