GBPUSD Daily Analysis – August 8, 2018

GBPUSD remains in the downtrend from 1.3213. Near term resistance is at 1.3020, as long as this level holds, the downside movement could be expected to continue and next target would be at 1.2800 area. Only a break of 1.3020 resistance could bring the price back towards the falling trend line on the 4-hour chart.

GBPUSD 4-hour chart