GBPUSD Daily Analysis – July 10, 2017

GBPUSD broke below 1.2893 support, suggesting that the uptrend from 1.2589 had completed at 1.3029 already. Further decline could be expected and next target would be at 1.2750 area. Near term resistance is at the downward trend line on the 4-hour chart, only a clear break above the trend line resistance could trigger another rise towards 1.3200.

GBPUSD 4-hour chart