GBPUSD Daily Analysis – August 14, 2018

GBPUSD extended its downside movement from 1.3213 to as low as 1.2722. Further decline is still possible and next target would be at 1.2600 area. Near term resistance is at 1.2860, 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