GBPUSD Daily Analysis – June 21, 2018

GBPUSD remains in the downtrend from 1.3472, the bounce from 1.3146 is likely consolidation for the downtrend. Further decline could be expected after the consolidation and a breakdown below 1.3146 support could trigger further downside movement to 1.3000 area. Near term resistance is at 1.3217, a breakout of this level could bring the price back towards 1.3298 resistance, only a break of this level could signal completion of the downtrend.

GBPUSD 4-hour chart