GBPUSD Daily Analysis – August 2, 2018

GBPUSD continued its sideways movement in a trading range between 1.3070 and 1.3213. Key support is at 1.3070, as long as this level holds, the sideways movement could be treated as consolidation for the uptrend from 1.2957 and one more rise towards 1.3300 is possible after the consolidation. On the downside, a breakdown below 1.3070 support could take the price to next support level at 1.2957, below here would aim 1.2880 area.

GBPUSD 4-hour chart