GBPUSD Daily Analysis – August 24, 2018

GBPUSD failed to break above the falling trend line on the 4-hour chart and pulled back from 1.2936, facing the support level at 1.2800. A breakdown below this level could trigger further downside movement towards 1.2700. Near term resistance is at 1.2860, only a break of this level could bring the price back towards the trend line.

GBPUSD 4-hour chart