GBPUSD Daily Analysis – August 1, 2018

GBPUSD moved sideways in a trading range between 1.3070 and 1.3213. As long as 1.3070 support holds, the sideways movement could be treated as consolidation for the uptrend from 1.2957 and another rise towards 1.3300 could be expected after the consolidation. On the downside, a breakdown below 1.3070 support could bring the price back towards 1.2957 previous low.

GBPUSD 4-hour chart