GBPUSD Daily Analysis – July 4, 2017

GBPUSD’s pullback from 1.3029 extended to as low as 1.2929. As long as 1.2900 support holds, the fall could be treated as consolidation of the uptrend from 1.2589 and further rise towards 1.3200 is still possible after the consolidation. Key support is located at the bullish trend line on its 4-hour chart, only a clear break below the trend line support could signal completion of the uptrend.

GBPUSD 4-hour chart