GBPUSD Daily Analysis – August 7, 2018

GBPUSD extended its downside movement from 1.3213 to as low as 1.2919, breaking below 1.2957 previous low support. Further decline could be expected in a couple of days and next target would be at 1.2800 area. Near term resistance is at 1.3020, only a break of this level could bring the price back towards the falling trend line on the 4-hour chart.

GBPUSD 4-hour chart