GBPUSD Weekly Analysis – July 8, 2017

GBPUSD failed to break above 1.3047 resistance and pulled back from 1.3029, indicating that a short term top had been formed. Deeper decline would likely be seen in a couple of weeks and next target would be at 1.2500 area. Resistance is at 1.3029, only a break above this level could take price into 1.3200 zone.

GBPUSD daily chart