GBPUSD Weekly Analysis – July 20, 2019

GBPUSD extended its downside movement from 1.3381 to as low as 1.2381, breaking below 1.2396 support. Further decline could be expected in a couple of weeks and next target would be at 1.2200 area. Resistance is at the top of the falling price channel on the daily chart, only break above the channel resistance could signal completion of the downtrend.

GBPUSD daily chart