GBPUSD Daily Analysis – July 27, 2018

GBPUSD pulled back from 1.3213 after touching the falling trend line on the 4-hour chart, suggesting that lengthier consolidation for the upside movement from 1.2957 is needed. As long as 1.3070 support holds, the upside movement could be expected to resume and a break of 1.3213 resistance could take the price to next resistance level at 1.3292. Only a breakdown below 1.3070 support could bring the price back towards 1.2957 previous low.

GBPUSD 4-hour chart