GBPUSD Daily Analysis – July 14, 2017

GBPUSD broke above the falling trend line on its 4-hour chart, suggesting that the short term downtrend from 1.3029 had completed at 1.2811 already. Further rise to test 1.3029 resistance could be seen and a break of this level could take price into 1.3200 zone. Support levels are at 1.2870 and 1.2811, only break below these levels could trigger another fall towards 1.2700.

GBPUSD 4-hour chart