GBPUSD Daily Analysis – July 31, 2018

GBPUSD failed to break below 1.3070 support and stayed in a trading range between 1.3070 and 1.3213. As long as 1.3070 support holds, the price action in the range could be treated as consolidation for the uptrend from 1.2957 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