GBPUSD Daily Analysis – August 22, 2018

GBPUSD broke above 1.2827 resistance and extended its upside movement from 1.2661 to as high as 1.2924. Further rise is still possible and next target would be at the falling trend line on the 4-hour chart. Near term support is at 1.2800, only a breakdown below this level could bring the price back towards 1.2661.

GBPUSD 4-hour chart