GBPUSD Daily Analysis – July 7, 2017

GBPUSD moved sideways in trading range between 1.2893 and 1.3029. As long as 1.2893 support holds, the sideways movement could be treated as consolidation of the uptrend from 1.2589, and further rise towards 1.3200 is possible after the consolidation. Only a breakdown below 1.2893 support will indicate that the uptrend had completed at 1.3029 already, then the pair will find next support at around 1.2700.

GBPUSD 4-hour chart