GBPUSD Daily Analysis – July 19, 2018

GBPUSD extended its downside movement from 1.3362 to as low as 1.3009, breaking below 1.3049 support. Deeper decline is still possible after a minor consolidation and next target would be at 1.2950 area. Resistance is at 1.3140, only a break of this level could bring the price back towards the falling trend line on the 4-hour chart.

GBPUSD 4-hour chart