GBPUSD Daily Analysis – August 4, 2017

GBPUSD broke below the ascending trend line on its 4-hour chart, indicating that the short term uptrend from 1.2932 had completed at 1.3267 already. Deeper decline could be expected and next target would be at 1.3000 area. Resistance is at 1.3267, only a break of this level could trigger another rise towards 1.3500.

GBPUSD 4-hour chart