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GBPUSD Analysis - August 4, 2012

Long Term Forex Analysis | by ForexCycle.com | Saturday, 04 August 2012 06:05 UTC
GBPUSD stays in a trading range between 1.5393 and 1.5776. The price action in the range is likely consolidation of the uptrend from 1.5268, another rise is expected after consolidation, and a break above 1.5776 could signal resumption of the uptrend.

For long term analysis, GBPUSD has formed a cycle top at 1.6301 on weekly chart. Further decline to 1.4500 area is expected over the next several weeks.

gbpusd daily chart

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