GBPUSD Daily Analysis – August 10, 2017

GBPUSD’s fall from 1.3267 extended to as low as 1.2952. Deeper decline to test 1.2932 support is possible, a breakdown below this level could take price into 1.2850 zone. Near term resistance is at 1.3060, only move above this level will indicate that a short term bottom had been formed at 1.2952, then the correction rebound could bring price back into 1.3120 zone.

GBPUSD 4-hour chart