GBPUSD Daily Analysis – August 13, 2018

GBPUSD’s downside movement from 1.3213 extended to as low as 1.2722. Near term resistance is at 1.2860, as long as this level holds, the downside movement could be expected to continue and next target would be at 1.2600 area. Only a break of 1.2860 resistance could bring the price back towards the falling trend line on the 4-hour chart.

GBPUSD 4-hour chart