GBPUSD Daily Analysis – July 11, 2017

GBPUSD stays below a descending trend line on its 4-hour chart and is in downtrend from 1.3029. As long as the price is below the trend line, the downward movement could be expected to continue and next target would be at 1.2750 area. Only a clear break above the trend line resistance will indicate that the uptrend from 1.2589 has resumed, and this could trigger another rise towards 1.3200.

GBPUSD 4-hour chart