GBPUSD Daily Analysis – July 23, 2018

GBPUSD broke above 1.3085 resistance. Further rally towards the falling trend line on the 4-hour chart is possible. A breakout of the trend line resistance would confirm that the downside movement from 1.3362 had completed at 1.2957 already, then the following upside movement could take the price to 1.3550 area. Support is at 1.3050, only a breakdown below this level could trigger another fall towards 1.2900.

GBPUSD 4-hour chart