GBPUSD Weekly Analysis – July 8, 2018

GBPUSD stays in a falling price channel on the daily chart and remains in the downtrend from 1.4376. As long as the price is in the channel, the bounce from 1.3049 could be treated as consolidation for the downtrend and further decline towards 1.2500 is possible after the consolidation. On the other side, a breakout of the channel resistance could bring the price back to test 1.3472 key resistance, above this level could signal completion of the downtrend.

GBPUSD daily chart