GBPUSD Daily Analysis – July 13, 2017

GBPUSD continued its downward movement from 1.3029 and the fall extended to as low as 1.2811. The pair is now facing the trend line resistance, as long as the trend line resistance holds, the downtrend 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 fall from 1.3029 had completed at 1.2811 already, this could trigger another rise towards 1.3200.

GBPUSD 4-hour chart