GBPUSD Weekly Analysis – August 19, 2018

GBPUSD’s downside movement from 1.4376 extended to as low as 1.2661. As long as the price is below the falling trend line on the daily chart, the downside movement could be expected to continue and next target would be at 1.2300 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

GBPUSD daily chart