GBPUSD Weekly Analysis – August 2, 2020

GBPUSD extended its upside movement from 1.1409 to as high as 1.3169. As long as the price is above the rising trend line on the daily chart, the upside movement could be expected to continue and next target would be at 1.3500 area. Near term support is at 1.3000, a breakdown below this level could bring the price back towards the trend line.

GBPUSD daily chart