GBPUSD Weekly Analysis – July 29, 2018

GBPUSD stays below a falling trend line on the daily chart and remains in the downtrend from 1.4376. As long as the price is below the trend line, the downside movement could be expected to continue and next target would be at 1.2750 area. On the other side, a clear break above the trend line resistance could take the price to test 1.3362 key resistance, above this level could signal completion of the downtrend.

GBPUSD daily chart