GBPUSD Daily Analysis – July 20, 2018

GBPUSD’s downside movement from 1.3362 extended to as low as 1.2957. Further decline is still possible after a minor consolidation and next target would be at 1.2900 area. Resistance is at 1.3085, a break of this level could bring the price back towards the falling trend line on the 4-hour chart.

GBPUSD 4-hour chart