GBPUSD Daily Analysis – August 11, 2017

Being supported by 1.2932 low, GBPUSD rebounded from 1.2951, suggesting that a short term bottom is being formed on the 4-hour chart. A break above 1.3030 near term resistance could bring price back into 1.3120 zone. On the downside, as long as 1.3030 resistance holds, the downside movement from 1.3267 is possible to continue and next target would be at 1.2850 area.

GBPUSD 4-hour chart