GBPUSD Daily Analysis – July 26, 2017

GBPUSD formed a sideways movement in a trading range between 1.2811 and 1.3125. Another fall to test 1.2811 support would likely be seen in a couple of days. As long as this support level holds, the sideways movement could be treated as consolidation of the uptrend from 1.2589 and further rise to test 1.3200 resistance could be expected after the consolidation. Near term resistance is at 1.3125, a break of this level could signal resumption of the uptrend.

GBPUSD 4-hour chart