GBPUSD Daily Analysis – July 5, 2017

GBPUSD is facing the support of the ascending trend line on its 4-hour chart. As long as the pair is above the trend line, the fall from 1.3029 could be treated as consolidation of the uptrend from 1.2589 and further rise towards 1.3200 is still possible after the consolidation. On the downside, a clear break below the trend line support will indicate that the uptrend had completed at 1.3029 already, then the pair will find next support at around 1.2700.

GBPUSD 4-hour chart