GBPUSD Daily Analysis – July 17, 2017

After breaking above the falling trend line on the 4-hour chart, GBPUSD continued to break above 1.3029 resistance, confirming that the uptrend from 1.2589 has resumed. Further rise could be expected after a minor consolidation and next target would be at 1.3200 area. Support is now at 1.3000, only a breakdown below this level could signal completion of the uptrend.

GBPUSD 4-hour chart